WAM Global Declares Fully Franked AUD 0.065 Dividend for H2 2024

Dividend Announcement Overview

WAM Global Limited (ASX: WGB), a prominent player in the investment management sector, has declared an ordinary dividend of AUD 0.065 per share, fully franked at the 30% corporate tax rate. This dividend covers the financial reporting period ending 31 December 2024, underscoring the company’s ongoing commitment to delivering shareholder returns.

The dividend will go ex-dividend on 19 May 2025, with the record date set for 20 May 2025. Shareholders on the register at that date will receive payment on 30 May 2025. The fully franked nature of the dividend means investors will benefit from franking credits, enhancing the after-tax yield of their investment.

Dividend Reinvestment Plan Details

WAM Global continues to offer its Dividend Reinvestment Plan (DRP), allowing shareholders to reinvest their dividends into new shares rather than receiving cash. Notably, the DRP does not include a discount, with shares issued at the volume weighted average price (VWAP) over the four trading days commencing on the ex-dividend date. This approach aligns the reinvestment price closely with market value, ensuring fairness for participating shareholders.

The deadline for DRP election is 22 May 2025 at 5:00 pm, shortly after the ex-dividend date, providing shareholders a clear window to decide their participation. Shares issued under the DRP will rank pari passu with existing shares, maintaining equal rights and entitlements.

Implications for Investors and Market Sentiment

This dividend announcement signals WAM Global’s stable earnings and cash flow generation, reinforcing confidence in its investment portfolio management. The fully franked dividend is particularly attractive in the current environment, where tax efficiency is a key consideration for investors.

While the dividend amount is consistent with prior distributions, the absence of a DRP discount may influence participation rates. Investors will be watching closely to see how many shareholders opt to reinvest versus taking cash, which could provide insight into market sentiment toward WAM Global’s growth prospects.

Overall, the announcement reflects prudent capital management and a shareholder-friendly approach, positioning WAM Global well as it moves into the next financial period.