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I believe that you need to hold a stock for 47 days to receive franking. Does this mean 47 days before the stock goes ex dividend, or 47 days in total?
Also, I own some Genworth Mortgage. They paid an extra dividend a few months ago and I think they are doing a share buy back soon.
To my mind, this shows really good financial health. Should this give me confidence for the future?
A: Thanks for the question.
You need to hold the shares for at least 45 days. To get the dividend, you must own the shares on the day the stock goes ex dividend – apart from that, it is not specific as to whether it is 45 days in advance or arrears or some combination thereof – it must be at least 45 consecutive days (including the ex date).
With Genworth, the on-market buy back will help.
Sorry – not a fan of their business (or stock). Self-insurance options for the major banks, plus higher default rates as the property market takes a breather.
