WAM Strategic Value Limited Announces Dividend Distribution for 2024
WAM STRATEGIC VALUE LIMITED (WAR) Share Update August 2024 Tuesday 27th
WAM Strategic Value Limited Announces Dividend Distribution
WAM Strategic Value Limited (ASX: WAR) has announced a new dividend distribution of AUD 0.01 per share, with key dates for investors to note.
Instant Summary:
- Dividend amount: AUD 0.01 per share
- Ex Date: 22 November 2024
- Record Date: 25 November 2024
- Payment Date: 20 December 2024
- DRP election date: 27 November 2024
Dividend Details
WAM Strategic Value Limited has announced a dividend distribution of AUD 0.01 per share for the period ending 30 June 2024. This announcement was made on 28 August 2024. The ex-dividend date is set for 22 November 2024, and the record date is 25 November 2024. Shareholders can expect the payment to be made on 20 December 2024.
The Dividend Reinvestment Plan (DRP) is applicable to this distribution, allowing shareholders to reinvest their dividends into additional shares. The last date for DRP election is 27 November 2024 at 17:00.
DRP Details
The DRP price will be calculated as the aggregate price of shares purchased on-market, less brokerage costs and other expenses, divided by the number of shares purchased. Alternatively, it will be based on the volume weighted average market price (VWAP) of shares sold on the ASX over the four trading days commencing on the ex-dividend date.
New shares allotted under the DRP will be issued at the VWAP of shares sold on the ASX over the specified period. The DRP securities issue date is set for 20 December 2024. The board has the discretion to satisfy the dividends of participating shareholders by transferring existing fully paid ordinary shares in the company purchased on-market, issuing new fully paid ordinary shares, or using a combination of both.
Tax and Franking
The special dividend is fully franked at a rate of 30%, meaning that shareholders will receive the full benefit of the franking credits. The total dividend payment amount per security is AUD 0.01, with no unfranked amount or conduit foreign income included.
This dividend announcement is likely to have a positive impact on WAM Strategic Value Limited's stock price as it reflects the company's financial health and commitment to returning value to shareholders. The fully franked nature of the dividend is particularly appealing to investors seeking tax-effective income.
Investor Reaction:
Analysts are expected to react positively to this announcement due to the fully franked dividend and the company's clear dividend policy. The DRP option also provides flexibility for investors looking to reinvest their dividends.
Conclusion:
Investors should mark their calendars for the key dates related to this dividend distribution. The announcement underscores WAM Strategic Value Limited's strong financial position and commitment to shareholder returns. Consider participating in the DRP for potential long-term benefits.