WCM Global Growth Limited Boosts Dividend Payouts for Shareholders
WQG (WQG) Share Update November 2024 Wednesday 13th
WCM Global Growth Limited Announces Increased Fully Franked Dividends
WCM Global Growth Limited (ASX: WQG) has announced an increase in its fully franked dividends, reflecting strong financial performance and a commitment to shareholder value.
Instant Summary:
- Declared a fully franked dividend of 1.83 cents per share for Q1 FY2025.
- Future quarterly dividends revised upwards, starting with 1.87 cps in December 2024.
- Dividend Reinvestment Plan (DRP) available with a 3% discount.
- Strong investment performance with a 15.44% annual return since inception.
Dividend Announcement
WCM Global Growth Limited has declared a fully franked dividend of 1.83 cents per share for the quarter ended 30 September 2024. This dividend will be paid on 31 December 2024, with a record date of 12 December 2024. The company has also announced its intention to increase future quarterly dividends, with 1.87 cps for the quarter ending 31 December 2024, 1.89 cps for the quarter ending 31 March 2025, and 1.91 cps for the quarter ending 30 June 2025.
These increases are supported by strong financial results and accumulated franking credits. The company aims to enhance shareholder value by providing more frequent and higher dividend payouts.
Dividend Reinvestment Plan
The Dividend Reinvestment Plan (DRP) will be in operation for the Q1 FY2025 dividend, allowing shareholders to reinvest dividends at a 3% discount to the volume weighted average share price. Shareholders must elect to participate by 17 December 2024, either online or by completing a mailed election form.
Investment Performance
WCM Global Growth's portfolio has shown strong performance, with a 15.44% annual return since its inception in June 2017. This outpaces the MSCI All-Country World Index (ex. Australia), which returned 12.83% over the same period. A $10,000 investment in 2017 would have grown to $28,786 by October 2024.
Share Purchase Plan
In addition to the dividend announcements, WCM Global Growth has launched a Share Purchase Plan (SPP), allowing existing shareholders to purchase up to $30,000 of shares at a discounted price of $1.56, a 4.9% discount from the last closing price. The SPP is open until 4 December 2024.
The increased dividends and strong investment performance are likely to boost investor confidence in WCM Global Growth. The dividend increases reflect the company's robust financial health and commitment to returning value to shareholders. The DRP and SPP provide additional opportunities for shareholder engagement and investment growth.
Investor Reaction:
Analysts are expected to react positively to the announcement, noting the company's strategic focus on enhancing shareholder value through increased dividends and investment opportunities. The strong portfolio performance further supports a favorable outlook.
Conclusion:
WCM Global Growth's announcement of increased dividends and strong financial performance highlights its commitment to shareholder value. Investors should consider participating in the DRP and SPP to maximize their returns. Continued monitoring of the company's performance and strategic initiatives will be crucial for long-term investment decisions.