On Thursday Wesfarmers warned its full year dividend for fiscal 2009 was unlikely to exceed $1.00 per share, fully franked, down from $2.00 per share in fiscal 2008. The interim 2009 dividend would be no more than 50 cents per share, fully franked, down from 65 cents per share for the first half of 2008. The new capital will be used to repay debt as Wesfarmers continues its quest to turn ailing Coles around in five years by spending between $1 billion and $1.2 billion a year.