WAM Leaders Limited (ASX: WLE) reported robust FY18 performance wherein the investment portfolio increased by 17.8%, outperforming the S&P/ASX 200 Accumulation Index by 4.8%. Along with the significant rise in the investment portfolio, the group’s operating profit before tax accounted to $100.5 Mn in FY18 from $39.3 Mn in FY17, marking the splendid growth of 155.7% YoY. In addition to this, the company recorded operating profit after tax growth of 89.8% on Year on Year basis and this amounted to $74.6 Mn in FY18 from $29.2 Mn in FY17. This outstanding performance was fuelled by the sound stock selection of the investment team, led by Portfolio Manager Matthew Haupt. Based on the robust performance, the group declared a fully franked full-year dividend of 5.0 cents per share, an increase of 66.7% on the previous year, with the fully franked final dividend being 2.5 cents per share, payable on 26 October 2018 with the record date of 15 October 2018. The dividend payout represents a yield of 4.3% which is ahead of the broader market, and the share was trading at a slight discount to its net tangible asset backing. With this announcement, WLE’s stock edged up 0.422 per cent on July 16, 2018 before market close.[pluginops_form template_id='23834' ]
The Income available from dividends remains attractive for many investors.
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