Cadence Capital Limited (ASX: $CDM) Half Year Results Overview

Cadence Capital Limited (ASX: $CDM) has reported a half year profit after tax of $8.9m. The portfolio returned 4.1% over the six months to 31 December 2023. The company also declared a 3c fully franked interim dividend with an annualised yield of 8.0% fully franked (11.4% gross including franking). The Ex-date for the dividend is the 15 April 2024, and the payment date is the 30 April 2024.

Executive Commentary on Half Year Results and Dividend Declaration

The Chairman, Karl Siegling, highlighted that core investments across the resources and energy sectors were major drivers of returns for the fund in the period. He also emphasized the company's focus on implementing the Cadence process that has served them well through market cycles. The fund has delivered returns with significantly lower than market volatility over the past six months.

Summary of Half Year Results and Outlook

Cadence Capital Limited (ASX: $CDM) reported a half year profit after tax of $8.9m and a 4.1% fund return for the six months to 31 December 2023. The company declared a 3c fully franked interim dividend with an annualised yield of 8.0% fully franked (11.4% gross including franking). The dividend re-investment plan (DRP) will be in operation for this interim dividend, and the company will buy back the shares it issues under the DRP. The Chairman, Karl Siegling, expressed optimism about the company's performance and highlighted their focus on identifying new investments and implementing their successful market strategies. Cadence Capital is closely monitoring the current uptrend in interest rates and continues to focus on finding investment opportunities across a wide range of sectors and geographies.