Hi Warren - as many holders would lose part or even all of the premium in CGT, I agree the yield and the franking credit balance is a reasonable reason to continue to hold at elevated premiums (though IMO >20% is really stretching that logic too). But I really can't understand the logic of the buyers at such premiums, especially when the can buy WLE and WMI for around pre-tax NTA. It's actually the reverse of the logic of the fund manager they're buying into (as Geoff has stated many times).
Note, WAX has experienced a sizable capital loss for FY to date (as evidenced by the after tax NTA being much higher than the pre-tax NTA for end Mar). Whilst this is, of course, expected given massive falls for the ASX, it will eat into its profit reserves (won't change the franking credit balance) ... but it may limit the franked dividends that can be declared/paid in the medium term as you can't pay a franked dividend from shareholder capital (only profits).
Cheers,
Hi Warren - as many holders would lose part or even all of the...
Add WAX (ASX) to my watchlist
 (20min delay)
|
|||||
|
Last
$1.05 |
Change
0.010(0.97%) |
Mkt cap ! $213.2M | |||
| Open | High | Low | Value | Volume |
| $1.05 | $1.05 | $1.04 | $109.1K | 105.1K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 10600 | $1.04 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $1.05 | 130629 | 3 |
View Market Depth
| Last trade - 16.10pm 30/05/2024 (20 minute delay) ? |
|
|||||
|
Last
$1.04 |
Change
0.010 ( 0.48 %) |
||||
| Open | High | Low | Volume | ||
| $1.04 | $1.04 | $1.04 | 12006 | ||
| Last updated 15.31pm 30/05/2024 ? | |||||
| WAX (ASX) Chart |