WAM Microcap (WMI) H2 2026 earnings summary

Executive summary

• Declared a fully franked final dividend of 5.35 cps, bringing the full year dividend to 10.7 cps.

• Fully franked dividend yield stands at 7.6%, grossed-up yield at 10.9%.

• Since listing in 2017, 80.7 cps in fully franked dividends paid, or 115.3 cps including franking credits.

• Investment portfolio increased 0.1% in FY2026, underperforming the S&P/ASX Small Ordinaries Accumulation Index, which rose 8.1%.

• Since inception, portfolio has returned 14.4% p.a., outperforming the benchmark by 7.4% p.a.

Financial highlights

• Operating loss before tax of $2.4 million in FY2026, compared to a $59.7 million profit in FY2025.

• Operating loss after tax of $0.1 million, versus a $43.6 million profit after tax in FY2025.

• Share price as of 19 August 2026 was $1.40.

Outlook and guidance

• Portfolio is considered well positioned for FY2027, with confidence in opportunities across the micro-cap universe.

• Focus remains on undervalued micro-cap industrial companies for long-term value.