By David Rogers
The Geoff Wilson-chaired WAM Global will boost its dividend after achieving record profit on the back of another strong investment performance in the past financial year.
WAM Global’s operating profit before tax rose to $137m in the 2020-21 financial year and, with a one-year return of 30.7 per cent from its investment portfolio before fees, the listed investment company beat its benchmark MSCI World Index in Australian dollars by 3.2 per cent, eliciting an improvement in its share price relative to the net tangible assets of the fund.
Combined with a fully franked dividend of 10c for 2020-21 versus 7c in 2019-20, the investment performance and subsequent narrowing of the share price discount to NTA saw WAM Global achieve a record total shareholder return of 45.9 per cent for the 12 months to June 30.
Read more in The Australian.