The federal dividend tax credit for eligible dividends can be expressed as 6/11 of the gross up, 20.73 percent of dividends received, or 15.02 percent of grossed up dividends.

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This is true. The federal dividend tax credit for eligible dividends is calculated as 6/11 of the gross up, which is currently 38 percent. This works out to be 15.02 percent of the actual dividend amount received, or 20.73 percent of the grossed up dividend amount.

The Federal Dividend Tax Credit for Eligible Dividends Can Be