WAM Leaders Limited (ASX: WLE) has announced a robust performance for the financial year ended 30 June 2026, highlighted by significant investment portfolio outperformance and an increased fully franked full year dividend. WAM Leaders Limited is a listed investment company (LIC) managed by Wilson Asset Management, primarily focused on identifying and investing in undervalued growth companies within the Australian large-cap market. The Company’s investment portfolio recorded a 14.0% increase during FY2026, surpassing the S&P/ASX 200 Accumulation Index by 7.9%. In line with these strong results, the Board declared an increased fully franked full year dividend of 9.6 cents per share, with the final dividend set at 4.8 cents per share.
The increased dividend translates to a fully franked dividend yield of 7.2% and a grossed-up dividend yield of 10.3% when factoring in franking credits. Shareholders also saw a Total Shareholder Return (TSR) of 21.0% for the 12 months to 30 June 2026, climbing to 24.7% including franking credits. This strong return was attributed to the investment portfolio’s performance and the closing of the share price discount to Net Tangible Assets (NTA), shifting from a 7.8% discount to a 0.2% premium. Lead Portfolio Manager Matthew Haupt noted that evolving market conditions presented opportunities for active investors, allowing the team to adjust positioning and outperform the benchmark.
The company also reported a substantial uplift in profitability, with operating profit before tax soaring by 176.5% to $218.3 million and operating profit after tax increasing by 153.5% to $161.8 million. Furthermore, WAM Leaders successfully completed a $225 million placement to professional and sophisticated shareholders, which was oversubscribed, demonstrating strong investor confidence. An ongoing Share Purchase Plan (SPP) for eligible shareholders, allowing them to acquire up to $30,000 in shares without brokerage fees, is set to close on 1 September 2026. Chairman Geoff Wilson AO expressed satisfaction with the increased dividend, attributing it to the investment team’s performance and highlighting the Company’s consistent outperformance since its listing in May 2016. The additional capital from the placement is earmarked to capitalise on emerging investment opportunities.
