Barramundi's NAV dips as dividend accrual affects value

Barramundi's undiluted net asset value (NAV) stood at $0.7047 as of September 3, 2025, after deducting a 1.41 cents per share dividend payable on September 26, 2025. This represents a decrease from the August 31, 2025 NAV of $0.7342. The share price closed at $0.72 on September 3, 2025, resulting in a 2% discount to NAV, contrasting with a 1% premium reported on August 31, 2025, when the share price was $0.73.

The company's NAV per share calculation also accounts for treasury stock, which is currently nil. Outstanding warrants (BRMWI) totaling 85,179,108 are on issue and can be exercised on August 7, 2026, at $0.70 per warrant, less dividends declared with a record date between August 7, 2025, and the exercise announcement. A total of 1.41 cents per share in dividends has been declared to date, with three more expected before the August 2026 exercise price announcement.

Barramundi, managed by Fisher Funds, focuses on investing in growing Australian companies. Its top five portfolio holdings as of September 3, 2025, include CSL (8%), Seek (7%), WiseTech (6%), Macquarie Group (5%), and Brambles (5%). The company aims to provide competitive returns through capital growth and dividends via a tax-efficient investment vehicle.