Our accountant has finalised our 30 June 2021 accounts and we will be sending out our FY21 financial statement to all shareholders shortly.
We are announcing an inaugural FY21 fully franked dividend of 19.4 cents per share (made up of 5.8 cents in franking credits and 13.6 cents in cash) which will be reinvested (or paid) before 30 September 2021. A dividend statement to all shareholders will also be issued.
The key reason we are issuing a dividend is to pay out our franking credits which have no value to CV Capital. Given our goal of harnessing the effects of compounding capital over a long period of time, our default position will be to reinvest the dividends. I will be reinvesting all of my dividends.
The reinvestment price per share (verified by our accountant) is $1.33, details as follows:
Should you elect not to reinvest your dividends, please inform me before 12 September 2021.
Feel free to contact me if you have any questions.
Illustration of dividend reinvestment
Assuming a shareholder had 100,000 shares then he/she would be entitled to a dividend of $19,400 (19.4 cents x 100,000). Out of this amount, the cash portion is $13,600. Based on a dividend reinvestment price of $1.33, the shareholder would be issued 10,226 shares ($13,600/ $1.33).