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WAM Microcap Limited (ASX:WMI)

ALERT: Price-sensitive ASX Announcement for WMI
Current share price for WMI : $1.465 -0.09 (-5.79%)+
Announcement
Release
20 Feb 2025 10:02AM
Price at Release
$1.555
Full Release
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Summary
WAM Microcap Limited (ASX: WMI) reported a significant outperformance of its investment portfolio, which increased by 31.7% in the calendar year 2024, surpassing the S&P/ASX Small Ordinaries Accumulation Index by 23.3%. This strong performance contributed to a remarkable 257.9% rise in operating profit before tax, amounting to $45.1 million, and a 240.6% increase in after-tax profits to $32.5 million in the first half of FY2025. The Board declared a fully franked interim dividend of 5.3 cents per share, reflecting an annualized yield of 6.8%, supported by a profits reserve of 48.6 cents per share. Key contributors to this performance included companies such as Zip Co and Tuas, with the firm expressing optimism for future investment opportunities amidst projected interest rate cuts.
Key Points
  • WAM Microcap Limited investment portfolio outperformed the S&P/ASX Small Ordinaries Accumulation Index by 23.3% in 2024.
  • Operating profit before tax increased by 257.9% to $45.1 million.
  • Operating profit after tax rose 240.6% to $32.5 million.
  • Board declared a fully franked interim dividend of 5.3 cents per share.
  • Annualized fully franked interim dividend yield is 6.8%.
  • Contributors to outperformance included Zip Co and Tuas.
  • The company has a profits reserve of 48.6 cents per share.
  • WAM Microcap has paid 64.75 cents per share in fully franked dividends since inception.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.