PM Capital Declares Fully Franked AUD 0.055 Dividend with DRP Option

Dividend Announcement Overview

PM Capital Global Opportunities Fund Limited (ASX: PGF) has declared an ordinary dividend of AUD 0.055 per fully paid ordinary share. This dividend is fully franked at the corporate tax rate of 30%, reflecting the company’s ongoing commitment to delivering tax-efficient returns to its shareholders. The dividend pertains to the financial period ending 31 December 2024, marking the fund’s half-yearly distribution cycle.

The ex-dividend date is scheduled for 13 March 2025, with the record date following on 14 March 2025. Shareholders on the register as of the record date will be eligible to receive the dividend, which will be paid on 14 April 2025. This timeline aligns with market expectations and provides clarity for investors planning their portfolio income.

Dividend Reinvestment Plan Details

Notably, PM Capital offers a Dividend Reinvestment Plan (DRP) for this distribution, allowing shareholders to reinvest their dividends into new shares rather than receiving cash. The DRP is fully available to eligible shareholders with registered addresses in Australia and New Zealand. The reinvestment price will be calculated as the average daily volume weighted average price of shares traded on the ASX between 25 March and 7 April 2025, with no discount applied.

Shareholders wishing to participate in the DRP must lodge their election by 17 March 2025. The new shares issued under the DRP will rank equally with existing shares from the date of issue, ensuring reinvested dividends contribute immediately to shareholder equity.

Implications for Investors

This fully franked dividend underscores PM Capital’s stable income-generating profile and its ability to sustain distributions despite market fluctuations. The absence of a DRP discount suggests a conservative approach to capital management, prioritizing shareholder value preservation over aggressive equity issuance.

Investors should note that dividend payments will be made by direct credit to eligible bank accounts, with no cheque payments issued. This reflects a broader industry trend towards streamlined, electronic payment methods.

Looking Ahead

As the payment date approaches, market participants will be watching the uptake of the DRP closely, which can signal shareholder confidence in the fund’s prospects. The fully franked nature of the dividend also makes PGF shares attractive for investors seeking tax-effective income streams in the current fiscal environment.