Spheria Emerging Companies Limited (SEC), an ASX-listed investment company focused on delivering long-term capital growth through investment in emerging companies, has announced a quarterly fully franked dividend of 3.6 cents per share. The dividend, payable on August 15, 2025, marks the highest quarterly dividend the company has paid to date. It will be fully franked at the corporate tax rate of 30%.
The dividend aligns with SEC’s target to distribute dividends quarterly, set at 1.5% of post-tax Net Tangible Assets (NTA) at the end of each calendar quarter, contingent on available profits, cash flow, and franking credits. The calculation is based on the company’s post-tax NTA as at 30 June 2025 of $2.375 per share. The ex-dividend date is scheduled for July 28, 2025, with a dividend record date of July 29, 2025.
Spheria Asset Management Pty Ltd, the investment manager for SEC, noted that the portfolio underperformed the market during the June 2025 quarter, rising 2.4% compared to the benchmark’s 8.6%. However, over a one-year period, the portfolio gained 16.3% versus the benchmark’s 12.3%. The company noted tax loss selling can disproportionately affect it in June, but that it has generated strong returns for shareholders for many years.
SEC’s dividend reinvestment plan (DRP) is available for this dividend. Shareholders wishing to participate must elect by Wednesday, July 30, 2025. Enrolment is available through Automic. Following this payment, total dividends since the company’s IPO in December 2017 will amount to 69.2 cents per share. As of June 30, 2025, the company’s franking account held $4.3 million, equivalent to 16.8 cents per share in fully franked dividends. The board will continue to monitor the dividend policy based on market conditions.
