In this new world, dividends are down - but they’re not out. While post Covid-19, dividends from Australian companies have been cut by 30% overall, dividend cuts are not evenly distributed across the board, and it is still possible to achieve 5% cash yields plus up to 2% franking credits from a well constructed Australian equities portfolio. This compares very favourably with other asset classes, and with cash rates that are expected to be around zero for the next two to three years. In a low return environment, the tax effectiveness of Australian shares, particularly...