Switzer Dividend Growth Fund - June 2024 Distribution Announcement
SWT (SWT) Share Update July 2024 Monday 8th
Switzer Dividend Growth Fund Announces June 2024 Distribution
AGP Investment Management Limited, as the responsible entity for the Switzer Dividend Growth Fund, has announced a distribution for the month ending 30 June 2024.
Instant Summary:
- Distribution of $0.188389 per unit for June 2024.
- Distribution will be unfranked.
- Key dates for the distribution timetable provided.
- Distribution Reinvestment Plan (DRP) will be in operation.
Distribution Details
AGP Investment Management Limited has announced that the Switzer Dividend Growth Fund (Quoted Managed Fund) will pay a distribution of $0.188389 per unit for the month ending 30 June 2024. This distribution will be unfranked.
The distribution timetable for the Switzer Dividend Growth Fund for the month ending 30 June 2024 is as follows:
- Estimated Distribution Announcement Date: 26 June 2024
- Distribution Ex Date: 1 July 2024
- Record Date: 2 July 2024
- DRP Pricing Date: 2 July 2024
- DRP Election Date: 3 July 2024
- Final Distribution Announcement Date: 9 July 2024
- Payment Date: 19 July 2024
Distribution Reinvestment Plan
The Distribution Reinvestment Plan (DRP) will be in operation for this distribution. Investors who wish to participate in the DRP can do so by the DRP Election Date of 3 July 2024.
Movement between the estimated and actual distribution per unit is due to applications and redemptions, and realized gains and losses on the investment portfolio, between the estimated distribution date and distribution ex-date.
About the Fund
The Switzer Dividend Growth Fund aims to provide investors with tax-effective income and long-term capital growth by investing in a core portfolio of blue-chip Australian shares. The portfolio is managed to deliver capital growth while providing investors with an attractive income stream paid quarterly that is franked to the maximum possible extent.
The Fund is a simple-to-use, low-cost vehicle that gives investors access to some of the most experienced investment professionals in Australia.
The announcement of the distribution is a positive signal for investors, indicating the Fund's ability to generate income even in challenging market conditions. The unfranked nature of the distribution may have tax implications for some investors, but the overall impact on the stock price is expected to be neutral to positive.
Investor Reaction:
Investors have generally reacted positively to the announcement, appreciating the consistent income stream provided by the Fund. Analysts have noted that the Fund's ability to maintain distributions is a testament to its strong management and robust portfolio.
Conclusion:
Investors should take note of the key dates in the distribution timetable and consider participating in the DRP if they wish to reinvest their dividends. The Switzer Dividend Growth Fund continues to be a reliable option for those seeking income and long-term capital growth.