Oh - sorry
Still before my time but my understanding was that was done to accelerate debt reduction and reinvest into the business , for logistics and facilities. The loss of franking I imagine would be the shift to Chinese production and the georgraphical split of income .
Personally I have been trying to force myself to hold stocks with strong balance sheets and good growth profiles , and the best stocks to hold are the one that have just got their act together and transformed , it’s not an exciting stock as it won’t go up 30% in a day, but it’s a very solid low risk medium return holding . If I can get 35-40% capital return over the next 18 months plus 5-8% income I will be very happy .
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