Antipodes declares maiden dividend
Global equities investment manager, Antipodes Partners, has released its annual results for its listed investment firm, Antipodes Global Investment (APL), which declared its maiden dividend of five cents per share, 50 per cent franked.
At the same time the operating profit after tax for FY18 increased to $34 million from $26.8 million while the investment portfolio performance increased by12.3 per cent for FY2018.
The board also said that its maiden dividend since listing in October 2016, would be paid to all APL shareholders as at the ex-dividend date, with the company intention being to pay a dividend to shareholders at least annually, subject to available profits, cash flow and franking credits.
Following this, APL said that its options would cease trading on 9 October 2018 and the last day to exercise them is 15 October 2018.
“We strongly encourage all APLO holders to make a decision on what to do with their options ahead of expiry date. The options have an exercise price of $1.10 per option. The 10 August 2018 pre-tax NTA on a fully diluted basis is $1.208. As at 22 August 2018 the share price was $1.145 and the options had a closing price of 4.3c per option, “ the company said in a press release.
All shares assigned upon exercise of the APLO options would qualify for the five cent maiden dividend.
In the interests of all shareholders, the Board decided that the Company would not seek an underwriting for any unexercised APLO options, it said.
AUTHOR
Oksana Patron
Recommended for you
Australia’s “sophisticated” financial services industry is a magnet for offshore fund managers, according to a global firm.
The latest Morningstar asset manager survey believes ETF providers are likely to retain the market share they have gained from active managers.
Negative market movements, coupled with net outflows, have prompted a near $6 billion decline in Challenger’s funds under management for FY25’s third quarter.
The real estate investment manager has positioned the APAC region for future growth with an internal promotion to the newly created role of deputy head of Asia Pacific.
