for the year ended 30 June 2019NOTE 26. EQUITYRETAINED PROFITS CONSOLIDATED20192018 $$(Accumulated losses)/retained profits at the beginning of the financial year(13,250,020)115,374,413 Loss after income tax expense for the year(193,992,693)(124,510,815)Dividends paid(4,113,618)Accumulated losses at the end of the financial year(207,242,713)(13,250,020)NOTE 27. EQUITYDIVIDENDSA new dividend policy was announced on 29 August 2017, which stated that the consolidated entity intends to pay out 10-30% of net profit after tax as dividends to shareholders, with the intention to provide regular half-yearly dividend payments, subject to the consolidated entity's then current working capital requirements and growth plans. Shareholders should note that the payment of dividends is not guaranteed.No dividends were paid for the year ended 30 June 2019.FRANKING CREDIT BALANCE CONSOLIDATED20192018 $$Franking credits available for subsequent reporting periods after paymentof tax liability based on a tax rate of 30% (2018: 30%)471,682 471,682 70 DONACO INTERNATIONAL LIMITED 2019 ANNUAL REPORT""/>
for the year ended 30 June 2019NOTE 26. EQUITYRETAINED PROFITS CONSOLIDATED20192018 $$(Accumulated losses)/retained profits at the beginning of the financial year(13,250,020)115,374,413 Loss after income tax expense for the year(193,992,693)(124,510,815)Dividends paid(4,113,618)Accumulated losses at the end of the financial year(207,242,713)(13,250,020)NOTE 27. EQUITYDIVIDENDSA new dividend policy was announced on 29 August 2017, which stated that the consolidated entity intends to pay out 10-30% of net profit after tax as dividends to shareholders, with the intention to provide regular half-yearly dividend payments, subject to the consolidated entity's then current working capital requirements and growth plans. Shareholders should note that the payment of dividends is not guaranteed.No dividends were paid for the year ended 30 June 2019.FRANKING CREDIT BALANCE CONSOLIDATED20192018 $$Franking credits available for subsequent reporting periods after paymentof tax liability based on a tax rate of 30% (2018: 30%)471,682 471,682 70 DONACO INTERNATIONAL LIMITED 2019 ANNUAL REPORT"" />
Flipbook
b"NOTES TO THE FINANCIAL STATEMENTS >for the year ended 30 June 2019NOTE 26. EQUITYRETAINED PROFITS CONSOLIDATED20192018 $$(Accumulated losses)/retained profits at the beginning of the financial year(13,250,020)115,374,413 Loss after income tax expense for the year(193,992,693)(124,510,815)Dividends paid(4,113,618)Accumulated losses at the end of the financial year(207,242,713)(13,250,020)NOTE 27. EQUITYDIVIDENDSA new dividend policy was announced on 29 August 2017, which stated that the consolidated entity intends to pay out 10-30% of net profit after tax as dividends to shareholders, with the intention to provide regular half-yearly dividend payments, subject to the consolidated entity's then current working capital requirements and growth plans. Shareholders should note that the payment of dividends is not guaranteed.No dividends were paid for the year ended 30 June 2019.FRANKING CREDIT BALANCE CONSOLIDATED20192018 $$Franking credits available for subsequent reporting periods after paymentof tax liability based on a tax rate of 30% (2018: 30%)471,682 471,682 70 DONACO INTERNATIONAL LIMITED 2019 ANNUAL REPORT"