Spheria Emerging Companies (ASX: $SEC) dividend increase announcement

Spheria Emerging Companies Limited (ASX: $SEC) has announced an increase in its targeted quarterly fully franked dividend to 1.5% of post-tax net tangible assets (NTA) per share from the current 1.25%. This represents a 20% increase on the current level of dividends and a 50% increase over the level of dividends from one year prior. The increased dividend target will be implemented from the 30 June 2024 quarterly dividend.

Executive Commentary on Dividend Increase

One of the benefits of a LIC structure is the ability to manage capital to pay regular and consistent fully franked dividends to shareholders. Since IPO, the Company has already paid more than 50 cents per share of fully franked dividends, and we are very pleased to announce this increase in dividend target which will apply from the next quarterly dividend payment.

Summary of Spheria Emerging Companies (ASX: $SEC) Dividend Increase

Spheria Emerging Companies Limited (ASX: $SEC) has increased its targeted quarterly fully franked dividend to 1.5% of post-tax net tangible assets (NTA) per share, representing a 20% increase on the current level of dividends. The new dividend guidance is subject to available profits, cash flow, and franking credits, and the Board will continue to monitor the Company's dividend policy based on prevailing market conditions. The increase in dividend target reflects the Company's continued strong level of dividends received from its underlying investment portfolio and a healthy level of retained profits and franking credits. The Company's ability to manage capital to pay regular and consistent fully franked dividends to shareholders has been highlighted, and the Board's commitment to monitoring the dividend policy based on market conditions has been emphasized.