As expected, the interim dividend has been increased from 7.25 cents to 7.5 cents. You can expect the final dividend to also be 7.5 cents with next years dividends at least each be 7.75 cents.
Increase the dividend & the share price follows. WAM is one stock where the share price is more related to the dividend than the net tangible assets. A reason for this, is that they are true to their word & are paying an increasing stream of dividends & have the retained earnings & franking credits to cover future dividends.
Allowing for this years dividends being a total of 15 cents, it equates to a grossed up yield of 8.78%.
WAM Price at posting:
$2.44 Sentiment: Buy Disclosure: Held
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