A combination of strong investment performance coupled with a reduction in the cost of providing protection over the past year, has allowed Wealth Defender Equities Limited (ASX:WDE) to declare a fully franked 2c per share interim dividend for the half year to 31 December 2017.
Recognising that consistent dividends are important to its shareholders, the Company’s objective remains to pay a regular, consistent dividend stream from available profits and cash flow in line with the performance of the Company.
Share Buy-Back
The Company intends to undertake an on-market share buy-back of up to 10% of its issued share capital as part of a capital management initiative over the next 12 months.
WDE is committed to actively managing the Company’s capital and believes that the buy-back provides the opportunity to repurchase shares at attractive valuations. Shares will only be bought back if the WDE share price trades at a material discount to its underlying net asset value.
WDE has appointed Baillieu Holst to manage the buy-back process. The buy-back will commence after the release of WDE’s half year results for the 2017/18 year. The half year result is planned for release on 26 February, 2018.