WAM Income Maximiser Board Declares Inaugural Monthly Dividend

MT Newswires Live07-18

WAM Income Maximiser (ASX:WMX) said its Board of Directors declared an inaugural monthly fully franked dividend of AU$0.002 per share, payable on Aug. 29 to shareholders of record as of Aug. 15, according to a Friday Australian bourse filing.

The firm said it is on track to meet or exceed the target income return on net tangible assets of the Reserve Bank of Australia cash rate plus 2.5% per annum, including franking credits.

It plans to grow the monthly dividend to the annualized target income return during the firm's first 12 months of operation. It forecast a September dividend of AU$0.0025 per share and an October dividend of AU$0.003 per share.

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