A very frank AGM Last week, retailer Harvey Norman (ASX: HVN) announced at its AGM a 1 for 22 renounceable rights issue to raise $121 million at $2.50 per...
A very frank AGM Last week, retailer Harvey Norman (ASX: HVN) announced at its AGM a 1 for 22 renounceable rights issue to raise $121 million at $2.50 per share versus the last sale price of $3.69 as of Friday's close. The proceeds of this equity raising will be used to facilitate the payment of a 14 cents fully franked special dividend to shareholders. This is the first time that we have seen a company do this since Flight Centre announced a rights issue in 2001 to help pay a special dividend of 60 cents per share. We are encouraged by Harvey Norman's Board's endeavour to release the value of its $659 million franking balance of which this represents a very small portion.
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Wilson Asset Management has a track record of making a difference for shareholders and the community for 25 years and is the investment manager for eight LICs - WAM Capital (ASX: WAM), WAM Leaders (ASX: WLE), WAM Global (ASX: WGB), WAM Microcap (ASX: WMI), WAM Alternative Assets (ASX: WMA), WAM Strategic Value (ASX: WAR), WAM Research (ASX: WAX) and WAM Active (ASX: WAA) - and the Wilson Asset Management Leaders Fund. Wilson Asset Management invests over $5 billion on behalf of more than 130,000 retail investors. Wilson Asset Management created and is the lead supporter of the first LICs to deliver both investment and social returns: Future Generation Australia (ASX: FGX) and Future Generation Global (ASX: FGG).
Wilson Asset Management
Wilson Asset Management has a track record of making a difference for shareholders and the community for 25 years and is the investment manager for eight LICs - WAM Capital (ASX: WAM), WAM Leaders (ASX: WLE), WAM Global (ASX: WGB), WAM Microcap...
Wilson Asset Management
Wilson Asset Management has a track record of making a difference for shareholders and the community for 25 years and is the investment manager for eight LICs - WAM Capital (ASX: WAM), WAM Leaders (ASX: WLE), WAM Global (ASX: WGB), WAM Microcap...
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