WAM Global Limited (ASX:WGB) Announces Increased Interim and Special Dividends
Dividend Declaration
WAM Global Limited (ASX: WGB) has declared an increased fully franked interim dividend of 6.5 cents per share and a special fully franked dividend of 4.0 cents per share. The interim dividend provides an annualised fully franked dividend yield of 5.7% and a grossed-up yield of 8.1%. Including the special dividend, the yield rises to 7.5% and 10.7%, respectively.
Investment Performance
In the year to December 31, 2024, WAM Global’s investment portfolio grew by 23.7%. Over the past two years, the strong portfolio performance has contributed to a 168.0% increase in operating profit before tax to $107.0 million and operating profit after tax to $74.9 million for the FY2025 interim results. The portfolio’s six-month return was 13.4%, slightly below the MSCI World Index (AUD) which rose by 14.6%. However, in January 2025, the portfolio outperformed the index by 2.1%, increasing by 4.9%.
Financial Performance
The company’s operating profit before tax surged by 168.0% to $107.0 million, and after tax reached $74.9 million in the FY2025 interim results, up from $39.9 million and $26.5 million respectively in HY2024.
Executive Comments
Chairman Geoff Wilson AO stated, “The strong investment portfolio performance has provided the Board with the confidence to announce an increased FY2025 fully franked interim dividend to shareholders of 6.5 cents per share and a special fully franked dividend of 4.0 cents per share. The strong investment performance has driven an increase in the net tangible assets (NTA) and as the share price has not increased by the same amount, it is currently trading at an attractive discount to NTA.”
Motley Fool contributor Matt Burgess has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
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