In addition to ordinary dividends, Whitefield may periodically pay fully franked LIC discount dividends. LIC discount dividends are distributions of eligible LIC discount capital gains made by the LIC. IN addition to the benefit of franking credits, these dividends also provide investors with a tax deduction for 50% (in the case of individuals) and 33% (in the case of super funds) of the gross value of the attributable LIC discount dividend. This process provides investors with the benefit of the capital gains discount regime on eligible capital gains made by Whitefield.