WAM Income Maximiser Limited (ASX: WMX) has announced the closure of its 2 for 5 pro-rata non-renounceable Entitlement Offer today, Friday 21 August 2026, at 5:00pm Sydney time. WAM Income Maximiser is a listed investment company (LIC) managed by Wilson Asset Management, aiming to provide monthly franked dividends and capital growth by investing in Australian companies and corporate debt. Eligible shareholders could subscribe for new shares at $1.62 each, representing a 4.1% discount to the estimated pre-tax net tangible assets of $1.69 per share (14 August 2026) and a 3.6% discount to the $1.68 current share price (20 August 2026). Results are expected Monday 24 August 2026.
The company concurrently reported strong financial results for the year ended 30 June 2026. Its investment portfolio increased by 19.2% over the 12-month period, outperforming its benchmark by 13.4%. This was achieved with 17.1% less volatility than the S&P/ASX 300 Accumulation Index. The annualised December 2026 fully franked dividend yield stood at 7.1% on the average pre-tax NTA, including franking credits, exceeding its 6.3% target income return. For FY2026, WAM Income Maximiser paid 6.9 cents per share in fully franked dividends. Operating profit before tax was $19.6 million, with an after-tax operating profit of $14.3 million.
Chairman Geoff Wilson AO highlighted a strong first full financial year, noting capital growth and consistent monthly fully franked dividends, supported by the company’s flexible multi-asset approach. Lead Portfolio Manager Matthew Haupt stated that FY2026’s heightened uncertainty presented significant opportunities. He affirmed the investment team successfully adapted the portfolio, delivering robust performance with lower volatility. Since inception, the investment portfolio has grown by 17.8% per annum, outperforming its benchmark by 7.6% per annum, with 25.9% less volatility. The company also confirmed ongoing monthly fully franked dividends up to December 2026, with a Dividend Reinvestment Plan active.
