WAM Research Maintains 5.0c Interim Dividend Despite Volatile Half
WAM Research Limited (ASX: WAX) reported a 1.8% decline in its investment portfolio for the six months to 31 December 2025, reflecting heightened volatility across small and mid-cap equities. Across the same timeframe, the S&P/ASX All Ordinaries Accumulation Index gained 4.4 per cent, while the Small Ordinaries Index added 17.4 per cent, led by outperformance in small-cap resource stocks. Although half-year returns were subdued, the portfolio continues to deliver compelling long-term outcomes. Over three and five years, it has delivered average annual returns of 18.7% and 12.1%, respectively, outperforming the broader market over both periods. Since the strategic shift in July 2010, the portfolio has generated 14.6% per annum, exceeding the benchmark by 5.4% annually.
The interim dividend was set at 5.0 cents per share, partially franked at 60 per cent, implying an annualised yield of 8.2 per cent, or 10.3 per cent on a grossed-up basis. The dividend is supported by available profit reserves under the LIC structure.
For the half year, WAM Research recorded an operating loss before tax of AU$5.1 million and an operating loss after tax of AU$3.2 million. As at 26 February 2026, the shares were trading at AU$1.22 compared to a pre-tax NTA of AU$0.97 per share.
Customer Notice:
Nextgen Global Services Pty Ltd trading as Kapitales Research (ABN 89 652 632 561) is a Corporate Authorised Representative (CAR No. 1293674) of Enva Australia Pty Ltd (AFSL 424494). The information contained in this website is general information only. Any advice is general advice only. No consideration has been given or will be given to the individual investment objectives, financial situation or needs of any particular person. The decision to invest or trade and the method selected is a personal decision and involves an inherent level of risk, and you must undertake your own investigations and obtain your own advice regarding the suitability of this product for your circumstances. Please be aware that all trading activity is subject to both profit & loss and may not be suitable for you. The past performance of this product is not and should not be taken as an indication of future performance.
Kapitales Research, Level 13, Suite 1A, 465 Victoria Ave, Chatswood, NSW 2067, Australia | 1800 005 780 | info@kapitales.com.au
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WAM Research Maintains 5.0c Interim Dividend Despite Volatile Half
WAM Research Limited (ASX: WAX) reported a 1.8% decline in its investment portfolio for the six months to 31 December 2025, reflecting heightened volatility across small and mid-cap equities. Across the same timeframe, the S&P/ASX All Ordinaries Accumulation Index gained 4.4 per cent, while the Small Ordinaries Index added 17.4 per cent, led by outperformance in small-cap resource stocks. Although half-year returns were subdued, the portfolio continues to deliver compelling long-term outcomes. Over three and five years, it has delivered average annual returns of 18.7% and 12.1%, respectively, outperforming the broader market over both periods. Since the strategic shift in July 2010, the portfolio has generated 14.6% per annum, exceeding the benchmark by 5.4% annually.
The interim dividend was set at 5.0 cents per share, partially franked at 60 per cent, implying an annualised yield of 8.2 per cent, or 10.3 per cent on a grossed-up basis. The dividend is supported by available profit reserves under the LIC structure.
For the half year, WAM Research recorded an operating loss before tax of AU$5.1 million and an operating loss after tax of AU$3.2 million. As at 26 February 2026, the shares were trading at AU$1.22 compared to a pre-tax NTA of AU$0.97 per share.
Customer Notice:
Nextgen Global Services Pty Ltd trading as Kapitales Research (ABN 89 652 632 561) is a Corporate Authorised Representative (CAR No. 1293674) of Enva Australia Pty Ltd (AFSL 424494). The information contained in this website is general information only. Any advice is general advice only. No consideration has been given or will be given to the individual investment objectives, financial situation or needs of any particular person. The decision to invest or trade and the method selected is a personal decision and involves an inherent level of risk, and you must undertake your own investigations and obtain your own advice regarding the suitability of this product for your circumstances. Please be aware that all trading activity is subject to both profit & loss and may not be suitable for you. The past performance of this product is not and should not be taken as an indication of future performance.
Kapitales Research, Level 13, Suite 1A, 465 Victoria Ave, Chatswood, NSW 2067, Australia | 1800 005 780 | info@kapitales.com.au