A listed investment company managed by Wilson Asset Management has declared a full-year dividend up 15 per cent on the prior year.
The WAM Leaders LIC has declared a fully franked final dividend of 3.25 cents per share, bringing the financial year 2020 fully franked full-year payout to 6.5 cents per share.
The FY20 full-year dividend will provide shareholders with a fully franked dividend yield of 6 per cent, based on the Friday share price of $1.08 per share.
According to the firm, its investment portfolio outperformed the S&P/ASX 200 Accumulation Index during the year to 30 June by 10.4 per cent, increasing 2.7 per cent.
WAM Leaders cited its approach focusing on large-cap companies with “compelling fundamentals, a robust macroeconomic thematic and a catalyst to drive the share price higher”.
On Monday, the firm’s share price rose to $1.13, from its previous $1.08 on Friday. It was the highest it had been in close to a month, from when it was $1.14 on 9 June.
Sarah Simpkins is a journalist at Momentum Media, reporting primarily on banking, financial services and wealth.
Prior to joining the team in 2018, Sarah worked in trade media and produced stories for a current affairs program on community radio.
You can contact her on [email protected].