WAM Capital (WAM) AGM 2024 summary

Opening remarks and agenda

• The meeting was opened as a hybrid event, acknowledging traditional landowners and introducing board members both in-person and online.

• Notice of meeting and chairman's address were circulated to all shareholders, with voting to be conducted by poll on all items.

Board and executive committee updates

• Lindsay Mann retired from the board after 12 years of service, with appreciation expressed for his contributions.

• Geoff Wilson and Kate Thorley both stood for re-election, sharing reflections on their tenure and commitment to shareholder engagement.

Financial performance review

• The investment portfolio increased 8.9% in the four months to October, outperforming the All Ords by 2.5%.

• Profit reserve at end of October was AUD 0.157 per share, supporting continued dividend payments.

• Maintaining the current dividend requires portfolio growth of approximately 16% per annum.

• Past years saw high dividends maintained even during market downturns, supported by profit reserves.