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GQG Partners rewards loyal investors with quarterly dividend
Investors who have been pushing up the share price of the global boutique investment manager GQG Partners (ASX:GQG) for the past year – it has more than doubled to close on Tuesday at $x.yy – have been rewarded with a quarterly dividend of 3.48 US cents a share or 5.3 Australian cents.
It follows an interim dividend to June 30, 2024, of 3.06 US cents (4.7 Australian cents) a share, representing a 90 per cent payout ratio of distributable earnings.
Dividend payments for the quarter to September 30 will be issued on December 20, 2024, with a record date of November 13, 2024, and the ex-dividend date set for November 12.
Investors have the option to receive their dividends in US or Australian currency, aligning with the currency designation in their accounts.
Although the dividend is unfranked, Australian investors can mitigate the 30 per cent US withholding tax by submitting the required W-8BEN or W-8BEN-E forms before the record date. This allows eligible investors to benefit from reduced tax rates under the US-Australia tax treaty.
This latest dividend is part of GQG’s strategy to offer consistent shareholder returns, providing investors with quarterly distributions aligned with the company’s financial health.
The firm’s focus on transparent communication and efficient capital distribution ensures investors can plan effectively, even amid market volatility, and they can anticipate future distributions that reflect both market opportunities and prudent management.
The dividend remains an attractive element for investors seeking reliable income. GQG’s clear dividend policy reflects both confidence in its ongoing financial stability and a commitment to keep shareholders engaged.
The quarterly dividend comes on the heels of a successful first half to June 30, 2024, with GQG ending the period with funds under management (FUM) across all strategies and vehicles at an all-time high of US$155.6 billion ($A236 billion).
Funds under management (FUM) increased 49.5 per cent from US$104.1 billion (A$158 billion) at June 30, 2023, due to a strong investment performance and positive net inflows into its fund strategies, with net flows a positive US$11.1 billion ($A16.9 billion).
Net revenue in the first half was US$363.1 million ($A552 million), an increase of 53.1 per cent, compared with the corresponding period in 2023, while net operating income increased by 54.9 per cent from US$176.4 million ($A268 million) during the first half of 2023 to US$273.2 million ($A415 million).
Chief executive officer Tim Carver said the strong financial results were driven, in large part, by GQG’s strong investment performance over the long-term.
“At June 30, 2024, our strategies continued to generate solid relative returns with lower volatility compared to their benchmarks, which we believe provides the foundation for continued business success.
“Our performance has been marked by disciplined risk management and a long-only equity strategy that emphasises sustainable returns. The firm’s ability to adapt to evolving market conditions has solidified its reputation, not just in Australia but globally.”
