Cadence posts record profit

Company News

Cadence Capital Limited (ASX:CDM) has posted a record net profit of $11.4 million – an increase of over 300 per cent on year.
The fund has announced a final dividend of 11 cents per share, representing an annualised 8.5 per cent fully franked yield.
Cadence says its combination of fundamental and technical analysis outperformed the overall market this year.
The fund says its delivered a fully-franked yield of over 8 per cent, in a relatively low-yield environment.
Current investors also have the opportunity to participate in a dividend reinvestment plan as at 3 per cent discount to the weighted average share price.
Cadence Capital generated a net profit of $7.4 million in the first half of fiscal 2013.