Mirrabooka Investments Declares Fully Franked AUD 0.045 Dividend for H1 2024

Mirrabooka Investments Announces Interim Dividend

Mirrabooka Investments Limited (ASX: MIR) has declared an ordinary dividend of AUD 0.045 per fully paid ordinary share, fully franked at the 30% corporate tax rate. This dividend covers the six-month period ending 31 December 2024 and will be paid on 18 February 2025.

The ex-dividend date is set for 23 January 2025, with the record date following on 24 January 2025. Shareholders registered by the record date will be eligible to receive the dividend payment.

Dividend Reinvestment and Bonus Security Plans

Mirrabooka continues to offer shareholders the option to participate in its Dividend Reinvestment Plan (DRP) and Bonus Security Plan (BSP). Both plans allow shareholders to reinvest their dividends into new shares without any discount applied to the issue price. The DRP price will be calculated based on the average selling price of shares traded on the ASX and Cboe over the five trading days following the ex-dividend date.

The deadline for shareholders to lodge their election notices for participation in either plan is 28 January 2025 at 5:00 pm. If shareholders do not make an election, the default option is to receive the dividend in cash.

Tax Implications and Distribution Composition

The entire dividend is fully franked, reflecting Mirrabooka’s ability to distribute profits with attached franking credits. Notably, the dividend is sourced from taxable capital gains, with a pre-tax attributable gain of 6.43 cents per share classified as a LIC capital gain. This structure may provide shareholders with tax deductions when filing their returns.

Mirrabooka’s transparent disclosure of the dividend’s tax components aligns with its commitment to providing clarity for investors, particularly those seeking to optimise their tax positions.

Outlook and Market Context

This dividend announcement signals Mirrabooka’s steady income generation and distribution capability amid a complex investment environment. The fully franked nature of the dividend is likely to appeal to income-focused investors, especially those in higher tax brackets who benefit from franking credits.

As Mirrabooka navigates the evolving market conditions, the continuation of its DRP and BSP without discounts suggests confidence in the underlying value of its shares and a preference to maintain shareholder equity without dilution pressures.