WAM Microcap Achieves Strong Portfolio Growth and Increased Dividend in FY2023

WAM Microcap Limited (ASX: WMI) reported a 16.9% increase in its investment portfolio for the 12 months ending June 2023, outperforming the S&P/ASX Small Ordinaries Accumulation Index by 8.5%. The portfolio's annual growth since inception in June 2017 was 15.0%, surpassing the index by 9.5% per year.

The company's fully franked dividend for the fiscal year stands at 10.5 cents per share, with the final dividend being 5.25 cents per share, representing a 5.0% increase from FY2022. The company reported an operating profit before tax of AU$35.4 million, a significant improvement from the FY2022 operating loss of AU$53.9 million. The investment team identified opportunities in challenging macroeconomic conditions. The portfolio's success was attributed to undervalued growth companies such as Tourism Holdings and MMA Offshore.

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