Antipodes declares maiden dividend

Antipodes-partners/LIC/APL/results/

24 August 2018
| By Oksana Patron |
image
image
expand image

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.

 

 

Read more about:

AUTHOR

Recommended for you

sub-bgsidebar subscription

Never miss the latest news and developments in wealth management industry

MARKET INSIGHTS

So we are now underwriting criminal scams?...

1 month 3 weeks ago

Glad to see the back of you Steve. You made financial more expensive, not more affordable as you claim, and presided ...

2 months ago

Completely agree Peter. The definition of 'significant change is circumstances relevant to the scope of the advice' is s...

4 months ago

Entireti has unveiled the new name for the AMP financial advice businesses that it acquired last year....

4 weeks ago

A Sydney financial adviser has been permanently banned from providing any financial services, with the regulator deriding his “lack of integrity, trustworthiness and prof...

2 weeks 6 days ago

Minister for Financial Services, Stephen Jones, has provided further information about the second tranche of the Delivering Better Financial Outcomes (DBFO) reforms....

1 week 5 days ago

TOP PERFORMING FUNDS