New capital allocation policy announced

The board of Baker Steel Resources Trust (BSRT) has announced a new capital allocation policy targeting a 5% return of capital per year. This is intended to be delivered through an annual dividend equal to 3% of NAV (paid semi-annually out of capital and/or from net income after operating expenses), with the balance allocated to buybacks or further dividends. BSRT intends to declare an interim dividend commencing in September 2026 and then in April 2027 from FY26 audited results. The board expects the dividend to become progressive once royalty income streams from its portfolio commence. Furthermore, BSRT committed to allocate at least 50% of profits from significant asset realisations to return of capital, either through a tender offer...