Metrics Master Income Trust has announced a distribution of 1.48 cents per unit for the one-month period ending 31 May 2026. The ex-date is 29 May 2026, with the distribution set to be paid on 9 June 2026 to unitholders on the register as at 1 June. This distribution maintains the trust’s regular monthly payment cycle, providing income-focused investors with consistent cash flow on a predictable schedule.
The annualised distribution rate implied by this monthly payment would equate to approximately 17.76 cents per unit, assuming distributions remain at this level throughout the year. For investors holding the units for income generation, monthly distributions offer advantages over quarterly or annual payments, allowing for more frequent reinvestment opportunities or income drawdown. The one-month period structure also means the trust is distributing income relatively quickly after earning it, which aligns with the trust’s stated income-focused investment objective.
A significant aspect of this announcement is that the entire distribution is unfranked, with zero franking credits attached. This means unitholders will receive no tax offset for the distribution and will be liable for tax on the full 1.48 cents per unit at their marginal tax rates. For investors in higher tax brackets, the unfranked nature of the distribution reduces its after-tax value compared to equivalent franked distributions. This is worth noting when assessing the trust’s yield against other income-generating securities, as comparisons should account for the tax treatment of distributions.
The trust has a Dividend Reinvestment Plan available for unitholders, with a zero per cent discount on the reinvestment price. This means units obtained through reinvestment will be issued at the calculated DRP price with no discount applied. The default election is for unitholders to receive cash distributions unless they actively opt into the DRP. The election deadline for participation is 17:00 on Tuesday, 2 June 2026, which provides several days for investors to decide whether they wish to reinvest distributions or take cash. For those seeking to compound their returns without incurring transaction costs associated with buying additional units on market, the DRP offers a straightforward mechanism.
It is worth noting that the distribution amount has been flagged as estimated, with the actual distribution amount to be announced on 4 June 2026. This means investors should confirm the final distribution figure closer to the record date before making any investment decisions based on the current estimate. The modest monthly distribution size is typical of this trust’s payment structure, and unitholders should monitor whether the distribution level remains consistent in future months or adjusts based on the trust’s income earnings. This announcement is price sensitive and has been flagged as material by the ASX.
View the full ASX announcement (PDF)
About Metrics Master Income Trust (ASX: MXT)
Metrics Master Income Trust is an Australian-listed investment fund that provides diversified exposure to the domestic corporate loan market. The trust actively manages a portfolio of Australian corporate loans across multiple borrowers and industries, with the objective of delivering monthly cash income and low capital loss risk. It operates as a managed investment scheme focused on participating in Australia’s corporate lending landscape.
If you would like to discuss this announcement or how it might affect your portfolio, request a callback or call us on 1300 889 603.
