Australia’s WAM Capital eyes worst day ever on slashing FY dividend target

Wam Capital

28/08/2026 04:56

** Shares of WAM Capital WAM.AX slumps 17.2% to A$1.25, heading for a record one-day fall, and is also set for its worst week on record with a 19.8% decline
** Fund manager’s FY2027 dividend target of 8 AU cps marks a sharp reduction from the 15.5 AU cps declared for FY2026
** Chairman says the board’s long-held 15.5 AU cps dividend has outpaced earnings since FY20, depleting profit reserves and rendering the payout unsustainable at current levels
** Meeting the board’s FY27 dividend target will hinge on generating additional profits through stronger investment portfolio performance during the year - Co
** Co also swings to annual Loss after income tax attributable A$125.9 million ($90.66 million) from a profit of A$219.6 million last year
** YTD stock down 31.5%
     
($1 = 1.3889 Australian dollars)
     
     
($1 = 1.3887 Australian dollars)

(Reporting by Tejas Harish in Bengaluru)
((Tejas.Harish@thomsonreuters.com;))