Hi. Can someone enlighten me on exactly where " Profit...

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rivella

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05/07/24

14:20

Post #: 74626647
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Originally posted by surfatnorth79: ↑

With the WMI capital raising, that was oversubscribe ($90m from the original $75m), it seems that existing shareholders with their existing units have not benefited for the following reasons:
payment on dividends straight away to the new units even though the new units did not contribute to the profit reserve
In March - 60.4c profit reserve / share and dividend coverage of 5.8 years
In April - 52.1 profit reserve / share and dividend coverage of 5 years. This before the payment of the dividend and inclusion of part of the new shares in the register
In May - 40.1 profit reserve / share and dividend coverage of 3.9 years. Dividend of 5.25c paid and inclusion of all new shares in the register
Based on the March figures a dividend payment of 8.7% of the profit reserve and without new shares would 55.5c and still a 5.2 year (without any loss in the months on the profit reserve
But instead in two months (based on March profit reserve) approx. 33% of the profit reserve has been used (when only 8.7% was distributed to existing shares) and a decline of 1.3 years of dividend coverage.
How has this benefited existing shareholders and their existing shares? Why wasnt a special dividend considered, this would have benefited existing shareholders
It seems that Wilsons is more interested in increasing their management fees than being fair / beneficial to their existing shareholders.

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Hi. Can someone enlighten me on exactly where " Profit reserves/Retained profits " are held within an LIC ?
Are they held within the holdings of companies that make up the NTA ?
Or elsewhere.
Thanks
Riv
WMI Price at posting: $1.42 Sentiment: Hold Disclosure: Held
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(20min delay)
Last $1.46		Change 0.005(0.34%)		Mkt cap ! $409.0M

Open	High	Low	Value	Volume
$1.46	$1.47	$1.46	$163.9K	112.5K

Buyers (Bids)

No.	Vol.	Price($)
1	1682	$1.46

Sellers (Offers)

Price($)	Vol.	No.
$1.47	220804	3

View Market Depth

No.	Vol.	Price($)
1	1682	1.460
3	23107	1.455
10	247664	1.450
4	80699	1.445
4	26689	1.440

Price($)	Vol.	No.
1.465	220804	3
1.470	8889	4
1.475	70469	2
1.480	29500	1
1.485	20000	1

Last trade - 11.10am 16/06/2025 (20 minute delay)

WMI (ASX) Chart

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