IMO the premium will continue to contract.
The use of cash has been timed almost the exact opposite of perfect in the last 6 months. WAM sold at the bottom in NOV/DEC, held the cash through the January rise and mised it, and then reduced cash in February as market returns stabilised at a low rate. Effectively missing the better part of returns for 2018/19.
Whilst they have paid consistent dividends, they haven't out-performed the market for 3 years now.
I know for some people fully-franked dividends are very lucrative and tax-effective, but the proposed changes to franking credits will reduce the number of people enticed to franked dividends and push people towards Capital Gain producing stocks/funds.
With the reduced shareholder market for stocks like these and the shine wearing off the Wilson Brand, I think WAM will trade closer to NTA in the coming years.
IMO/DYOR
Ann: February 2019 Investment Update, page-5
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Last
$1.46 |
Change
0.005(0.34%) |
Mkt cap ! $1.619B | |||
| Open | High | Low | Value | Volume |
| $1.46 | $1.46 | $1.46 | $46.94K | 32.22K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 12 | 157569 | $1.46 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $1.46 | 103207 | 8 |
View Market Depth
| Last trade - 10.10am 30/05/2024 (20 minute delay) ? |
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Last
$1.46 |
Change
0.005 ( 0.00 %) |
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| Open | High | Low | Volume | ||
| $1.46 | $1.46 | $1.46 | 124760 | ||
| Last updated 10.22am 30/05/2024 ? | |||||
| WAM (ASX) Chart |