AMCIL (ASX:AMH) declared a special fully-franked dividend of AU$0.03 per share after divesting from the Commonwealth Bank of Australia (ASX:CBA), in addition to a final dividend of AU$0.025 cents per share, according to a Thursday Australian bourse filing.

The special dividend reflects the distribution of the realized capital gains and franking credits generated from the trimming of its holdings in Wesfarmers and major banks, including the divestment of Commonwealth Bank of Australia, because the "valuations for these companies became very stretched."

The final dividend is flat compared to the previous year. It will pay the dividends on Aug. 27 to shareholders of record on Aug. 11.