WAM Global Updates Special Dividend and DRP Price for H1 2024

WAM Global's Dividend Update

WAM Global Limited (ASX, WGB) has provided an update to its previously announced special dividend for the first half of the 2024 financial year. The company confirmed a fully franked special dividend of 4 cents per share, reflecting its ongoing commitment to delivering shareholder returns. This dividend relates to the six-month period ending 31 December 2024, with the record date set for 18 July 2025 and payment scheduled for 31 July 2025.

Dividend Reinvestment Plan Clarification

Alongside the dividend details, WAM Global updated the pricing mechanism for its Dividend Reinvestment Plan (DRP). The DRP price has been set at AUD 2.5087 per share, calculated as the volume weighted average price over four trading days starting from the ex-dividend date of 17 July 2025. Notably, no discount has been applied to the DRP price, which may influence investor participation decisions.

The DRP remains fully available to shareholders, with new shares to be issued under the plan. These shares will rank equally with existing ordinary shares from the date of issue, ensuring reinvested dividends maintain full shareholder rights.

Implications for Investors

This update provides clarity for investors weighing the choice between cash dividends and reinvestment. The fully franked nature of the dividend signals WAM Global’s strong tax position, potentially enhancing after-tax returns for Australian shareholders. Meanwhile, the DRP’s pricing approach, without a discount, suggests the company is aligning reinvestment terms closely with market valuations.

For income-focused investors, the special dividend offers a tangible return for the half-year period, while those interested in compounding their investment can consider the DRP option. The absence of minimum or maximum participation limits further simplifies shareholder engagement with the plan.

Looking Ahead

WAM Global’s update underscores its steady approach to capital management and shareholder value. Market participants will be watching closely to see how the DRP uptake influences share price dynamics post-dividend payment and whether the company maintains this dividend trajectory in future periods.