Morphic Ethical Equities Fund Ltd. (AU:MEC) has released an update.
Morphic Ethical Equities Fund Ltd. is seeking shareholder approval for a further 20% share buyback after nearly exhausting the previous allowance, which improved share liquidity and reduced discount to net tangible assets. The company has also announced a reduction in quarterly dividends from 3.5 to 1.5 cents due to underperformance and limited franking credits, with future dividends to be paid at the maximum level of franking credits available.
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