WMX Sets January Dividend at 0.45 Cents Fully Franked with DRP Price at AUD 1.61973

Dividend Update and Context

WAM Income Maximiser Limited (ASX, WMX) has provided an update to its recent dividend announcement, confirming an ordinary dividend of 0.45 cents per share for the month ending 31 January 2026. This dividend is fully franked, reflecting the company’s commitment to delivering tax-effective income to its shareholders. The record date for entitlement is 20 January 2026, with payments scheduled for 30 January 2026.

The update primarily clarifies the Dividend Reinvestment Plan (DRP) price, a key detail for investors considering reinvestment options. The DRP price has been set at AUD 1.61973, calculated as the volume weighted average price over four trading days starting from the ex-dividend date, with no discount applied. This approach aligns with market norms and ensures transparency in pricing for reinvested shares.

Implications for Investors

For income-focused investors, the fully franked nature of the dividend is particularly attractive, as it provides a tax credit that can offset personal tax liabilities. The absence of a discount on the DRP price means shareholders opting to reinvest will acquire new shares at a fair market value, preserving the integrity of their investment.

Importantly, the DRP securities will be newly issued and will rank pari passu with existing shares from the date of issue, ensuring equal rights and dividends for all shareholders. There are no minimum or maximum participation limits, making the plan accessible to all shareholders regardless of their holding size.

Regulatory and Market Considerations

The company has confirmed that no external approvals, such as security holder or court approvals, are required for this dividend distribution. This streamlines the process and provides certainty around the payment timeline. The update does not alter the dividend amount previously announced on 9 January 2026 but provides clarity on the DRP pricing mechanism.

From a market perspective, the DRP update may influence shareholder behaviour, particularly among those seeking to compound their holdings through reinvestment. Analysts will be watching closely to see the uptake of the DRP and its impact on WMX’s share capital and liquidity.