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WAM Income Maximiser Delivers Annualized May Fully Franked Dividend Yield of 7% on IPO Price

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WAM Income Maximiser (ASX:WMX) delivered an annualized May fully franked dividend yield of 7% on the initial public offering (IPO) price, including the value of franking credits, according to a Thursday Australian bourse filing.

The target income return of the firm is the Reserve Bank of Australia's cash rate plus 2.5% per annum, including the value of franking credits. Its annualised May fully franked dividend was AU$0.0732 per share, or AU$0.105 per share when including the value of franking credits, and the IPO price was AU$1.50 per share.

Its pre-tax net tangible assets (NTA) was AU$1.6613 per share as of April 30.

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