Share Price $1.130 |
Latest NTA per Share (pre-unrealised tax) $1.31 |
Current Year Target Dividend $0.06 |
Yield on Target Dividend 5.3% |
Westoz Investment Company Limited (WIC.ASX) is a listed investment company based in Perth and established in 2005.
The Company’s objective is to generate a positive return over the medium to long-term, regardless of the movements of the broader share market, from an actively managed portfolio of small to mid cap ASX listed investments and provide shareholders with a consistent stream of dividends.
Stocks selected within the portfolio are generally outside the Top 100 and will typically have a connection to Western Australia whether it be through their assets, operations and/or management.
The Company’s portfolio is managed by Westoz Funds Management Pty Ltd (AFSL 285607), a 100% owned subsidiary of Euroz Limited. Euroz Limited is invested alongside shareholders via a 26% shareholding.
The Company intends on paying a consistent stream of dividends to investors. Dividend payments will be set after considering our level of realised net profits after tax, retained earnings and availability of franking credits.
To date, WIC has generated $179m in dividends and franking credits for shareholders.
Dividend Reinvestment Plan and Form
Ex Date | Date Paid | Dividend (cents) | Franking Level | DRP |
7-Aug-2020 | 27-Aug-2020 | 3.0 | 100% | Yes, at $0.954 |
3-Feb-2020 | 21-Feb-2020 | 3.0 | 100% | Yes, at $1.104 |
9-Aug-2019 | 30-Aug-2019 | 3.0 | 100% | Yes, at $1.034 |
1-Feb-2019 | 22-Feb-2019 | 3.0 | 100% | Yes, at $1.061 |
3-Aug-2018 | 27-Aug-2018 | 3.0 | 100% | Yes, at $1.158 |
31-Jan-2018 | 20-Feb-2018 | 3.0 | 100% | Yes, at $1.142 |
7-Aug-2017 | 24-Aug-2017 | 3.0 | 100% | Yes, at $0.953 |
31-Jan-2017 | 20-Feb-2017 | 3.0 | 100% | Yes, at $1.005 |
8-Aug-2016 | 25-Aug-2016 | 3.0 | 100% | Yes, at $0.882 |
2-Feb-2016 | 19-Feb-2016 | 3.0 | 100% | Yes, at $0.7454 |
7-Aug-2015 | 27-Aug-2015 | 4.5 | 100% | Yes, at $0.881 |
6-Feb-2015 | 24-Feb-2015 | 4.5 | 100% | Yes, at $1.0146 |
7-Aug-2014 | 25-Aug-2014 | 4.5 | 100% | Yes, at $1.30 |
28-Jan-2014 | 17-Feb-2014 | 4.5 | 100% | No |
2-Aug-2013 | 15-Aug-2013 | 6.0 | 100% | No |
14-Jan 2013 | 01-Feb-2013 | 3.0 | 100% | No |
2-Aug-2012 | 16-Aug-2012 | 3.0 | 100% | No |
25-Jan-2012 | 15-Feb-2012 | 1.0 | 100% | No |
3-Aug-2011 | 16-Aug-2011 | 8.0 | 100% | No |
25-Jan-2011 | 15-Feb-2011 | 3.0 | 100% | No |
3-Aug-2010 | 16-Aug-2010 | 7.5 | 100% | No |
25-Jan-2010 | 15-Feb-2010 | 2.5 | 100% | No |
3-Aug-2008 | 16-Aug-2008 | 10.0 | 100% | Yes, at $1.47 |
3-Aug-2007 | 16-Aug-2007 | 5.0 | 100% | Yes, at $1.26 |
3-Aug-2006 | 16-Aug-2006 | 5.0 | 100% | Yes, at $1.06 |
WIC’s investment portfolio has produced a gross investment return of 13.2%* per annum since inception.
* Portfolio performance represents the return on the company’s gross investment portfolio before all fees, expenses and taxes. Past performance is not a reliable indicator of future performance.
As an ASX listed company, our company announcements are available on that platform.
All our lodged announcements are available here:
14/04/2021
Weekly NTA Update
13/04/2021
Daily share buy-back notice - Appendix 3E
07/04/2021
Weekly NTA Update
01/04/2021
Monthly NTA Update
31/03/2021
Share Cancellation
31/03/2021
Weekly NTA Update
View all ASX Announcements
Annual reports for Westoz Investment Company Limited are available since inception in 2005.
You can view each year report below:
2020 Annual ReportWestoz Investment Company Limited’s Initial Prospectus can be viewed by clicking the following link:
Investors wishing to gain exposure to our investments can purchase securities in Westoz Investment Company through your investment platform, stockbroker or affiliated advisor.
Ordinary shares trade on the ASX under the code WIC.
If you require further assistance or cannot locate the document you are after, our share registry, Computershare Investor Services Pty Ltd (phone: 1300 749 533) may be of assistance.
Alternatively, you can contact us directly at admin@westozfunds.com.au or on 08 9321 7877.
Mr Jay Hughes – Non-Executive Chairman
Mr Hughes commenced as a Director of the Company in 2005 and assumed the role of Non-Executive Chairman in October 2013.
Mr Hughes holds a Graduate Diploma in Applied Finance and Investment from the Securities Institute of Australia. He was recognised as an affiliate of ASX in December 2000 and was admitted in May 2004 as a Practitioner Member (Master Stockbroking) of the Stockbrokers and Financial Advisors Association.
Mr Hughes is also a member of the Manager’s Investment Committee.
Mr Terry Budge – Independent Non-Executive Director
Mr Budge is an Independent Non-Executive Director of the Company and serves on the Company’s Audit Committee. He has held this role since April 2005.
He is also a member of the Board of Advice for AON Risk Management Services Australia. Mr Budge holds a Bachelor of Economics from Monash University and is a Graduate of the Advanced Management Program from Harvard Business School.
He is also a Graduate and Fellow of the Australian Institute of Company Directors, a Senior Fellow of the Financial Services Institute of Australia and a Fellow of the Australian Institute of Management.
Mr Simon Joyner – Independent Non-Executive Director
Mr Joyner has been involved in the West Australian financial services industry since 1985 and brings a broad range of experience to Westoz. Mr Joyner established Keysbrook Financial Services in 1997, one of Western Australia’s first independently owned financial services firms. In 2008 Keysbrook became a founding firm of what was to become the Shadforth Financial Group (“SFG”). SFG subsequently listed on the ASX and was purchased by IOOF in 2014.
More recently Mr Joyner established management consulting firm Aberfoyle Partners, assisting businesses across a range of industries but predominantly those associated with the financial services industry. Mr Joyner is the Chairman of Kidsafe WA and sits on the board of the Perth Symphony Orchestra.
Mr Joyner has a Bachelor of Commerce Degree from the University of Western Australia.
Mr Anthony Hewett – Company Secretary
Mr Hewett commenced as the Company Secretary of the Company in June 2017 and is the Group Company Secretary to Euroz Limited and its subsidiaries. He is also Company Secretary of Ozgrowth Limited.
Mr Hewett is a Chartered Secretary and holds a Master of Business Law (MBusLaw) from Curtin University, and a Graduate Diploma in Applied Corporate Governance (GradDipACG) from the Governance Institute of Australia. In addition, Mr Hewett also holds qualifications in Financial Services, Leadership, and Training.
Mr Hewett is a Fellow of the Institute of Chartered Secretaries and Administrators (FCSA), a Fellow of the Governance Institute of Australia (FGIA) and a Master Stockbroking, Stockbrokers and Financial Advisers Association of Australia (MSAFAA).
The Company’s objective is to generate a positive return over the medium to long-term, regardless of the movements of the broader share market, from an actively managed portfolio of small to mid cap ASX listed investments and provide shareholders with a consistent stream of dividends.
Westoz’s investment philosophy is based on the premise that financial markets and individual securities can and do deviate away from fair value. By detailed analysis of a range of valuation parameters, active management of a portfolio of equities can be used to generate an acceptable level of absolute return over a range of time frames.
Due to the relative levels of research coverage by the market, Westoz also believes that companies outside of the Top 100 will experience greater deviation from fair value.
A medium to long-term investment horizon is required and large non-investment driven cash flows can adversely impact long term performance. Hence, a listed investment company structure is the most appropriate form of the investment vehicle.
Westoz has appointed the Manager to undertake the management of its investment portfolio in a manner consistent with its Investment Philosophy.
Westoz will mainly invest in listed securities. From time to time, a portion of the Portfolio may be held in short term cash deposits. Due to the geographic location of the Manager, it is anticipated that the majority of investments will have a connection to Western Australia. Derivatives may be used where considered appropriate.
The Manager will use a variety of sources to generate investment ideas. A range of parameters are used to assess value, but a key input to the analysis is the expected growth potential of the company. After completing the necessary analysis, a set of stock recommendations will be presented to the Manager’s Investment Committee.
The Investment Committee will review the recommendations and put them in the context of the overall equity environment. It will then review the Company’s current Portfolio in light of the information presented to it and adjust holdings in the Portfolio to ensure the targeted performance is achieved.
The Investment Committee can also use a variety of instruments to achieve its performance objectives. Where they are allowed, short positions may be held where a compelling reason exists. Derivatives may also be used to generate additional income in the Portfolio or to protect the Portfolio from market downturns.
The manager is paid a base fee of 1% per annum of funds managed. In addition, a performance fee is payable where the increase in the portfolio value exceeds 10% over a twelve month period to end of June and is calculated at 20% of the increase exceeding the threshold. The starting point for the calculation of the threshold is the greater of the starting portfolio value and the number of shares on issue multiplied by $1.00.
Subject to the conditions of the Australian Financial Services licence held by the Manager, the Manager may invest in the following types of investments:
Performance of the Portfolio will be generated from investment in suitable stocks. However, diversification of holdings will be used to limit the risk where the actual performance of individual stocks does not meet expectations. Risk control features of the Portfolio will include:
The Board of the Company has in place a Corporate Governance Plan.
The Company uses the ASX Corporate Governance Principles of Good Corporate Governance and Best Practice Recommendations (Best Practice Recommendations) as a non-binding guide when determining its policy.
The Company will report any deviations from these best Practice Recommendations in its Corporate Governance Statement and the Appendix 4G released to the ASX.
Corporate Governance StatementGenerated over $210m in dividends and franking credits
West Australian based and investment focused
Investment Manager aligned with investors
Consistent investment team
Westoz Funds Management Pty Ltd (WFM) is a Perth based fund manager established in 2005.
WFM manages two listed investment companies, Westoz Investment Company Limited and Ozgrowth Limited, which focus on investing in small to mid cap ASX listed securities, generally connected to Western Australia.
The investment objective for both portfolios is to generate a positive return over the medium to long term, regardless of the movements of the broader share market, and provide shareholders with a consistent stream of dividends.
Westoz Funds Management Pty Ltd is a wholly owned subsidiary of Euroz Limited, a listed diversified financial services company.
More detail on the manager is available here.