Yahoo's finance data for dividends is flat out wrong for CBA.AX. Why is that?
I looked the the dividend history for CBA.AX
au.finance.yahoo.com/quote/CBA.AX/history?period1=686152800&period2=1525010400&interval=div%7Csplit&filter=div&frequency=1d
and I went to the CBA website and found a completely different set of numbers!
www.commbank.com.au/about-us/shareholders/managing-your-shares/dividend.html
For example, the dividend for the half year ending 31 Dec 2017 is shown by CBA as but Yahoo shows .8571.
Yahoo's numbers are different. Why is that?
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Atypically, Yahoo appears to show a grossed-up dividend (i.e. the dividend, adjusted for franking credits) rather than the actual dividend paid to a shareholder.
As at 30 Apr 2018, Yahoo shows a dividend for Date 14 Feb 2018 of .8571.
Commonwealth Bank (CBA) actually paid a dividend, fully franked. Australia's company tax rate is currently 30%. Therefore, the grossed-up dividend is * franking rate/ (100%-30%) = 2 * 100% / (100%-30%) = 2*1/0.7 = .857142857
The Australian Taxation Office has a lot of information regarding franking credits/franked dividends: www.ato.gov.au/Business/Imputation/Receiving-dividends-and-other-distributions/
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