It’s all down to profits. The real question is ‘When do you think the fund will make a profit’? - which of course is unknowable.
WMI as @matt_kcd pointed out paid divvies after its first reporting period - that’s because the fund made >30% profits in 1st year (some very fortunate ipo timing combined with a little outperformance)
Catriona unfortunately got dealt the worst hand with IPO timing, and the fund is yet to make a profit. You can’t pay dividends without them!
On or around April 14th the fund will report NTA > the IPO NTA of $2.20. There may even be some profits by June 30th (depends what sales have occurred or if they’re all still paper profits).
I don’t think there will be enough for divvies this FY. Pending performance & underlying profits I probably don’t expect a divvy till April 2020 (for period ending 31st Dec 2019), or 6 months later in Oct for the 2020 Fiscal year.
Fund now trading at 12-13% under NTA by my reckoning.
Ann: March 2019 Investment Update, page-20
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Last
$2.21 |
Change
-0.010(0.45%) |
Mkt cap ! $785.1M | |||
| Open | High | Low | Value | Volume |
| $2.20 | $2.22 | $2.20 | $310.1K | 140.5K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 4688 | $2.21 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $2.22 | 45138 | 6 |
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| Last trade - 16.10pm 23/08/2024 (20 minute delay) ? |
| WGB (ASX) Chart |