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Morphic Ethical Equities Fund (ASX: $MEC) announces 3.5 cents per share dividend

MEC's Half Year Results and Dividend Announcement


Morphic Ethical Equities Fund Limited (ASX: $MEC) has released its 2024 Half Year Results and Dividend announcement. The company declared a fully franked dividend of 3.5 cents per share for the December quarter. The record date for this quarterly dividend will be 28 February 2024, and the payment date will be 18 March 2024. The company has also suspended its Dividend Reinvestment Plan (DRP) with immediate effect for this dividend.

Executive Commentary on Half Year Results and Dividend


The portfolio was down 3.63% on a net basis during the period and underperformed its benchmark by 8.26%. The company's investments during the half-year resulted in an operating loss before tax of $2,559,228 and a loss after tax of $1,927,764. The company also bought back a total of 5,248,857 shares at an average price of $1.06 between 1 January 2024 and 19 February 2024. The Net Tangible Asset Value (NTA) per share at the end of the period was $1.0688 before tax and $1.0940 after tax.

Summary of Half Year Results and Dividend Announcement


Morphic Ethical Equities Fund Limited (ASX: $MEC) reported a decline in its portfolio performance, resulting in an operating loss before tax of $2,559,228 for the half-year ended 31 December 2023. The company also announced a fully franked dividend of 3.5 cents per share for the December quarter, with the record date set for 28 February 2024 and the payment date on 18 March 2024. Additionally, the company suspended its Dividend Reinvestment Plan (DRP) with immediate effect for this dividend. The Net Tangible Asset Value (NTA) per share at the end of the period was $1.0688 before tax and $1.0940 after tax. The company's focus remains on delivering ethically screened portfolios, generating superior risk-adjusted returns, and providing capital growth and consistent income.

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