Ophir High Conviction Fund - Dividend Distribution Update - 16 July 2024
OPH (OPH) Share Update July 2024 Tuesday 16th
Ophir High Conviction Fund Announces Dividend Distribution Update
Ophir High Conviction Fund (ASX: OPH) has announced an update to its dividend distribution, providing key details for investors regarding the payment schedule and amounts.
Instant Summary:
- Dividend relates to the period ending 30 June 2024.
- Record date for the dividend is 1 July 2024.
- Ex-dividend date is 28 June 2024.
- Payment date is set for 20 August 2024.
- Dividend amount per security is AUD 0.07498500.
- Dividend is unfranked.
- Full Dividend Reinvestment Plan (DRP) is available.
Dividend Distribution Details
Ophir High Conviction Fund has provided an update to its previously announced dividend distribution. The dividend relates to the financial period ending 30 June 2024, with a record date set for 1 July 2024 and an ex-dividend date of 28 June 2024.
The payment date for the dividend is scheduled for 20 August 2024. Investors will receive a dividend amount of AUD 0.07498500 per security. It is important to note that this dividend is unfranked, meaning it does not come with any tax credits.
Dividend Reinvestment Plan (DRP)
Ophir High Conviction Fund has a full Dividend Reinvestment Plan (DRP) in place for this distribution. The DRP allows investors to reinvest their dividend payments into additional units of the fund. The DRP price will be calculated based on the Net Asset Value (NAV) of the fund's units as determined on the record date.
Investors who do not wish to participate in the DRP will receive their dividend payments in cash. The last date for lodgement of election notices to participate in the DRP is 2 July 2024 at 5:00 PM.
Tax Component Information
The fund will provide tax component information in the standard AMMA statements post 30 June. This information will be crucial for investors to accurately report their income for tax purposes.
The announcement of the dividend distribution is likely to have a positive impact on the Ophir High Conviction Fund's stock price. Dividends are often seen as a sign of a company's financial health and profitability, which can boost investor confidence. However, the fact that the dividend is unfranked may be a slight downside for some investors, as it does not provide tax advantages.
Investor Reaction:
Initial reactions from investors and analysts have been positive, with many appreciating the clarity provided by the updated announcement. The availability of the DRP is also seen as a favorable option for long-term investors looking to increase their holdings in the fund.
Conclusion:
Investors should take note of the key dates and details provided in this announcement to ensure they are well-prepared for the upcoming dividend distribution. Participating in the DRP could be a strategic move for those looking to grow their investment in the Ophir High Conviction Fund. As always, staying informed and making well-considered decisions will be crucial for maximizing returns.