«We think the recently lowered
dividend payout is sustainable, providing investors with an attractive 6 per cent fully
franked yield at current prices... we view the risks facing Telstra as more than reflected in the current stock price, trading at 12 times forward earnings per share and 5.5 times earnings before interest, tax, depreciation and amortisation,» the analysts said.
I'd estimate the current portfolio
dividend yield at about 2 % fully
franked, so you might get 50bps to 1 % of
franking credits a year on the current holdings.