WCM Global Growth Increases Final Dividend 25%


August 19, 2021
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WCM Global Growth Limited (ASX: WQG) reported a net operating profit after tax of $48.4m for FY21. The investment portfolio delivered a return of 26.8% for FY21 with total shareholder returns of 35.6%.

The Company has declared a final dividend for FY21 of 2.5cps, fully franked, a 25% increase of the FY20 final dividend. This represents a full year dividend of 4.5cps, a 12.5% increase on the FY20 full year dividend. The Board has announced it expects to deliver an increased dividend for the next two dividend payments, with a FY22 interim dividend of 2.75cps and a final FY22 dividend of 3.0cps. These dividends are anticipated to be fully franked. The increased dividends will be subject to the Company having sufficient profit reserves and franking credits and be subject to corporate, legal and regulatory considerations.

In February 2021, WQG issued Bonus Options on a 1 for 3 basis. The options have an exercise price of $1.50, which represents a discount of 7.4% to the share price at the close on 19 August 2021. The options have an exercise period that runs until 31 August 2022. Shareholders that exercise their options by COB 17 September 2021 and continue to hold the shares for the relevant record date will be eligible for all the above mentioned dividends.