FAIRFAX MEDIA  LIMITED  2013  77 NOTEs TO THE FINANCIAL sTATEMENTs  7. DIVIDENDs PAID AND PROPOsED  (A) ORDINARY SHARES (B) DIVIDENDS PROPOSED AND NOT RECOGNISED AS A LIABILITY FAIRFAx MEDIA LIMITED AND CONTROLLED ENTITIES FOR THE PERIOD ENDED 30 JUNE 2013 Since reporting date the Directors have declared a dividend of 1.0 cent per fully paid ordinary share, fully franked at the  corporate tax rate of 30%. The aggregate amount of the dividend to be paid on 17 September 2013 out of profits, but not  recognised as a liability at the end of the year, is expected to be $23.5 million. On a tax-paid basis, the Company’s franking account balance is approximately $60.0 million (2012: $74.2 million). The impact on  the franking account of the dividend declared by the Directors since reporting date will be a reduction in the franking account  of approximately $10.1 million. ConSolidATed 30June 2013 $’000 CONSOLIDATED 24 JUNE 2012 $’000 CoMPAny 30June 2013 $’000 COMPANY 24 JUNE 2012 $’000 Interim 2013 dividend: fully franked 1.0 cent – paid 20 March 2013 (2012: fully franked dividend 2.0 cents – paid 21 March 2012)  23,520   47,039   23,520   47,039  2012 dividend: fully franked 1.0 cent – paid 21 September 2012 (2011: fully franked dividend 1.5 cents – paid 27 September 2011)  23,520   35,279   23,520   35,279  Total dividends paid  47,040   82,318   47,040   82,318  CoMPAny 2013 $’000 COMPANY 2012 $’000 (C) FRANKED DIVIDENDS Franking account balance as at reporting date at 30% (2012: 30%)  60,043   74,182  Reduction in franking credits that will arise from the receipt of income tax receivable balances as at the end of the financial year  (3,901)  (778) Franking credits that will arise from the payment of income tax payable balances as at the end of the financial year – Total franking credits available for subsequent financial years based on a tax rate of 30%  56,142   73,404 