WAM Leaders announces increased fully franked interim dividend

WAM Leaders Limited (ASX: $WLE) has declared an increased fully franked interim dividend of 4.6 cents per share, representing an annualised fully franked dividend yield of 6.6% and a grossed-up dividend yield of 9.4% including franking credits. The Board of Directors also intends to deliver a FY2024 fully franked full year dividend of 9.2 cents per share.

Executive Commentary on Dividend Increase and Investment Performance

Chairman Geoff Wilson AO expressed, 'The increased fully franked interim dividend of 4.6 cents per share has been achieved by the strong, long-term investment portfolio performance by the WAM Leaders investment team. The Board's decision to announce dividend guidance for the FY2024 fully franked final dividend of 4.6 cents per share is underpinned by the performance of the investment team since inception and the profits reserve available.' Lead Portfolio Manager Matthew Haupt added, 'The WAM Leaders investment process has delivered strong outperformance for shareholders since inception. As we enter the 2024 calendar year, we anticipate an interest rate cutting environment which will begin to ease some of the pressures on the consumer.'

Summary of WAM Leaders Announcement

WAM Leaders (ASX: $WLE) has declared an increased fully franked interim dividend of 4.6 cents per share and provided fully franked full year dividend guidance of 9.2 cents per share for FY2024. The company reported an operating profit before tax of $16.9 million and an operating profit after tax of $16.8 million for the six months to 31 December 2023. The investment portfolio has outperformed the S&P/ASX 200 Accumulation Index, and the company aims to navigate market complexities and take advantage of potential rebounds in the year ahead. Additionally, WAM Leaders announced its intention to make an off-market takeover bid for QV Equities Limited (ASX: $QVE), subject to certain conditions, to provide shareholders with access to greater on-market liquidity.