WDE announces share buy-back

WDE/Wealth-Defender-Equities/dividend/

2 February 2018
| By Oksana Patron |
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Wealth Defender Equities (WDE) has announced plans to undertake an on-market share buy-back of up to 10 per cent of its issued share capital, as a part of capital management initiative over the 12 months, and declared a fully-franked two cents per share interim dividend.

The decision to pay such a dividend, which was declared for the half year to December, 2017, was helped by a combination of strong investment performance coupled with a reduction in the cost of providing protection over the past year, the company said.

WDE also said that it intended to pay a “regular, consistent dividend stream from available profits and cash flow in line with the performance of the company.”

WDE also believed that the buy-back would provide the opportunity to repurchase shares at attractive valuations.

The company appointed Baillieu Holst to help manage the buy-back process which would commence after the release of WDE’s half year results for the 2017/18 year, it said.

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