VGI Partners Global Investments' (ASX:VG1) board has agreed that it will seek to pay dividends of at least AU$0.06 per share on a six-monthly basis, up from the former policy of AU$0.05 per share, according to a Tuesday Australian bourse filing.
The Board also intends for future dividends to be franked to the fullest extent and will seek to increase its dividend payment over time, added the filing.
The company's policy update is supported by its profit reserve balance, which stood at AU$261.2 million as of December 31, 2024.
The company said its new policy is equivalent to a 6.4% annualized dividend yield at the current share price, before taking into account benefits from franking credits, or a 9.1% annualized yield if the dividends are fully franked and the yield is grossed up.
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