Sold My Shares Rather Than Receive a Dividend!

WCM Global Quality just announced that they expect to pay a $1.73 per share unfranked dividend. I only bought shares in my name this year. My 4.250 shares would receive a $7,300 dividend taxed at my marginal rate of 47%! Instead, I sold the shares for a capital gain of just under $800, which as it is a short-term gain will be taxed at the same rate. I didn't reckon on this being such a tax inefficient investment. I am keeping Moominmama's shares for now. It would make more sense to sell her more recently acquired shares. But her older shares, even after the long-term capital gains tax discount would be more costly to sell than to keep.

I am putting the proceeds into the First Sentier Imputation Fund. This is a case where I used the target allocation to tell me what to invest in. According to it, I need more large cap Australian stocks...