Westoz, Ozgrowth to pay $4.8m dividends

Two listed investment companies controlled by Euroz Securities will pay out nearly $5 million in half-year dividends, with Westoz Investment Company announcing a 3 cent per share payout for investors while Ozgrowth will distribute 0.25 cents per share.

With about 130 million shares on issue, Westoz’s 3 cent distribution is worth nearly $3.9 million, while Ozgrowth has 360 million shares on issue with the distribution worth just less than $1 million.

The half-yearly payments were in line with full-year targets for both companies, with Westoz hoping to distribute 6 cents per share while Ozgrowth projected 0.5 cents per share for the 2017 financial year.

Both companies are operated by the subsidiary of Perth broking house Euroz Securities, Westoz Funds Management, and have a Western Australian flavour to their investment strategies.

Shares in Ozgrowth were unchanged at the close of trading at 17 cents each, while shares in Westoz were 1 per cent higher at $1.