WAM Research Limited Announces Dividend Distribution for October 2024
WAM RESEARCH LIMITED (WAX) Share Update August 2024 Tuesday 27th
WAM Research Limited Announces New Dividend Distribution
WAM Research Limited (ASX: WAX) has announced a new dividend distribution of AUD 0.05 per share, payable on October 25, 2024.
Instant Summary:
- Dividend amount: AUD 0.05 per share.
- Ex Date: October 11, 2024.
- Record Date: October 14, 2024.
- Payment Date: October 25, 2024.
- 60% of the dividend is franked at a corporate tax rate of 30%.
Dividend Announcement Details
WAM Research Limited, trading on the ASX under the code WAX, has declared a new dividend distribution. The dividend amount is set at AUD 0.05 per share. This announcement was made on August 28, 2024, and pertains to the financial period ending June 30, 2024.
The important dates for this dividend are as follows: the ex-dividend date is October 11, 2024, the record date is October 14, 2024, and the payment date is October 25, 2024. Shareholders who wish to participate in the Dividend Reinvestment Plan (DRP) must submit their election notices by October 16, 2024, at 5:00 PM.
Dividend Details
The dividend is partially franked, with 60% of the amount franked at a corporate tax rate of 30%. This means that AUD 0.03 of the dividend per share is franked, while AUD 0.02 is unfranked. The distribution is made in Australian Dollars (AUD).
Dividend Reinvestment Plan (DRP)
WAM Research Limited offers a Dividend Reinvestment Plan (DRP) for this distribution. The DRP allows shareholders to reinvest their dividends into additional shares of the company. The DRP price will be calculated based on the volume-weighted average market price (VWAP) of shares sold on the ASX on the ex-dividend date and the three trading days following that date. The DRP securities will be issued on October 25, 2024, and will rank pari passu from the issue date.
This dividend announcement is likely to have a positive impact on WAM Research Limited's stock price as it reflects the company's profitability and commitment to returning value to its shareholders. The partially franked nature of the dividend may also attract investors looking for tax-effective income.
Investor Reaction:
Analysts are expected to react positively to this announcement, as regular dividend distributions are often seen as a sign of a company's financial health and stability. However, the mixed franking status might lead to varied reactions among investors depending on their tax situations.
Conclusion:
Investors should take note of the key dates and consider participating in the DRP if they wish to reinvest their dividends. This announcement underscores WAM Research Limited's ongoing commitment to rewarding its shareholders and maintaining a stable dividend policy.