WAM Strategic Value Limited Declares Dividend of AUD 0.03 per Share
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 0.03 per share, reflecting its commitment to returning value to shareholders.
Instant Summary:
- Dividend amount: AUD 0.03 per share.
- Ex-dividend date: October 1, 2024.
- Record date: October 2, 2024.
- Payment date: October 29, 2024.
- Dividend Reinvestment Plan (DRP) available.
Dividend Details
WAM Strategic Value Limited has declared a dividend of AUD 0.03 per share for the period ending June 30, 2024. The ex-dividend date is set for October 1, 2024, and shareholders must be on record by October 2, 2024, to be eligible for the dividend payment, which will be disbursed on October 29, 2024.
The dividend is fully franked, meaning that shareholders will receive the full benefit of the dividend without any additional tax liabilities. The applicable corporate tax rate for franking credit is 30%.
Dividend Reinvestment Plan (DRP)
WAM Strategic Value Limited also offers a Dividend Reinvestment Plan (DRP) for this distribution. Shareholders who wish to participate in the DRP must submit their election notices by 5:00 PM on October 4, 2024. The DRP allows shareholders to reinvest their dividends into additional shares of the company, either through on-market purchases or new share issues.
The DRP price will be calculated 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. This provides an opportunity for shareholders to increase their holdings in the company without incurring additional brokerage costs.
The announcement of a dividend distribution is generally positive news for shareholders as it indicates the company's profitability and willingness to share profits. The fully franked nature of the dividend further enhances its attractiveness. The availability of the DRP also provides flexibility for shareholders, allowing them to either take the cash payment or reinvest in the company.
Investor Reaction:
Analysts are likely to view this announcement favorably, as it reflects the company's strong financial position and commitment to returning value to shareholders. The fully franked dividend and the DRP option are expected to be well-received by the market.
Conclusion:
Investors should take note of the key dates associated with this dividend distribution and consider the benefits of participating in the DRP. WAM Strategic Value Limited's decision to declare a dividend is a positive signal of its financial health and future prospects.