Key highlights

  • WAM Capital Limited (ASX:WAM) shares were priced at $1.000 during the trading session on 22 October 2026, down 1.960% (down $0.020), and it carries an annual dividend yield of 15.50%.
  • The latest dividend was a final dividend of 7.75 cents per share with an ex-date of 8 October 2026 and a payment date of 21 October 2026, franked at 60%.
  • Its Appendix 4E for the year ended 30 June 2026 reported a net loss after tax of $125.9 million and a final dividend of 7.75 cents per share.

WAM Capital Limited (ASX:WAM) shares were priced at $1.000 during the trading session on 22 October 2026, down 1.960% (down $0.020). The stock carries an annual dividend yield of 15.50%, and its latest dividend is 7.75 cents per share. WAM Capital is a listed investment company managed by Wilson Asset Management. Its Appendix 4E for the year ended 30 June 2026 reported a net loss after tax of $125.9 million and a final dividend of 7.75 cents per share.

Trading snapshot

During the session on 22 October 2026, WAM traded at $1.000, down 1.960% (down $0.020), against a previous close of $1.020. The day range was $1.000 to $1.020, the bid-offer range was $1.000 to $1.010, and 2,451,529 shares had changed hands, compared with an average daily volume of 1,695,745. Market capitalisation is $1.16 billion, and there are 1,138,200,752 shares on issue. The company listed on 12 August 1999.

Fundamentals include EPS of negative $0.111, revenue of negative $161.99 million, net profit of negative $125.90 million, total assets of $1.66 billion and total liabilities of $72.26 million, with no P/E ratio.

About WAM Capital Limited: business overview

WAM Capital Limited is a listed investment company that gives investors exposure to an actively managed, diversified portfolio of growth companies, which the manager considers undervalued, listed on the ASX, with a focus on small-to-medium sized businesses. It was listed in August 1999 and is managed by Wilson Asset Management.

FY26 results (Appendix 4E)

WAM Capital reported revenue from ordinary activities of negative $161,994,077, a loss from ordinary activities before income tax of $186,717,060 and a net loss after income tax of $125,900,640 for the year ended 30 June 2026. Net tangible asset backing before tax was $1.22 per share, compared with $1.57, and after tax was $1.40, compared with $1.67.

Dividends and reinvestment

The company declared a final dividend of 7.75 cents per share, 60% franked, and an interim dividend of 7.75 cents per share, also 60% franked, with a 30% tax rate for franking. The final dividend had an ex-date of 8 October 2026, a record date of 9 October 2026 and a payment date of 21 October 2026. The dividend reinvestment plan operated for the final dividend at a 2.5% discount to the volume weighted average price over the four trading days commencing on the ex-dividend date.

The dividend and the yield figure

WAM carries an annual dividend yield of 15.50%. The latest dividend is described as a final dividend of 7.75 cents per share, with an ex-date of 8 October 2026, a record date of 9 October 2026 and a payment date of 21 October 2026. Franking is 60%.

The latest dividend alone is equal to about 7.8% of the share price of $1.000, a figure calculated for this article. The annual yield is quoted as an annual measure and is higher than that figure, which means it reflects more than the latest single dividend. Annual yield figures are not forecasts and are not a recommendation.

Related sector context

Listed investment managers and listed investment companies earn from management and performance fees or from investment portfolios, so their earnings and distributions can move with markets, fund flows and investment performance. Companies in the segment commonly report funds under management, fee revenue, net profit and dividends, and several pay a high proportion of earnings or reserves as dividends.

Risks to weigh in

As a listed investment company, WAM’s revenue and profit depend on investment portfolio performance, and the reported FY26 result was a loss. Dividends are paid from profits reserves, and the net tangible asset backing fell over the year, so dividend capacity depends on reserves and future investment results. Franking is 60% and depends on tax paid. The share price can trade at a discount or premium to net tangible assets.

Catalysts on watch

WAM’s monthly net tangible asset updates and its next interim dividend.

The company’s annual general meeting and any commentary on its dividend policy.

Changes in the investment portfolio and market conditions affecting small and mid-sized companies.

Wrapping up

WAM Capital carries a 15.50% annual yield, a final dividend of 7.75 cents paid on 21 October 2026 and 60% franking, set against a net loss and lower net tangible assets for FY26. The company’s later NTA updates and its next dividend will show how its dividend capacity develops.