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Perpetual Equity Investment Company (PIC) investor relations material
Perpetual Equity Investment Company H2 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Reported net profit after tax of $12.1 million for FY26, with a profit reserve of $63 million, providing 2.0 years of dividend coverage after the final dividend payment.
Delivered a fully franked final dividend of 4.0 cents per share for 2H26, totaling 8.0 cents per share for FY26, consistent with FY25.
Announced transition from semi-annual to monthly dividend payments, with the first monthly dividend expected in December 2026.
Financial highlights
FY26 total dividend yield was 6.8%, with a grossed-up yield of 9.7%, outperforming the S&P/ASX 300 Accumulation Index yield of 3.1% as of 30 June 2026.
Five-year investment performance was 5% p.a. based on NTA growth after expenses and reinvested dividends.
For the 12 months to 30 June 2026, the portfolio returned 2.8% versus the benchmark's 6.2%.
Outlook and guidance
Board remains focused on prudent capital management and regular income distribution, especially for retirees and income-focused investors.
Ongoing macroeconomic and geopolitical factors, including Middle East conflict and AI-driven infrastructure investment, are expected to shape market conditions.
- Portfolio outperformed in April, but longer-term returns lag the benchmark.PIC
Trading update - Record FY24 dividend and strong five-year outperformance, despite short-term lag.PIC
H2 2024 - FY25 profit declined 23.9% with 8.0c fully franked dividends and DRP offered.PIC
H2 2025 - Net profit after tax reached $20.4M, with a 6.4% dividend yield and a 4.0 cent dividend declared.PIC
H1 2026 - Strong FY25 results, solid dividends, and portfolio strategy shifts amid market volatility.PIC
AGM 2025 - Record FY24 results, robust dividends, and a new management agreement amid inflation risks.PIC
AGM 2024 - Returned to profitability with $5.9M net profit and a 4.0 cps fully franked interim dividend.PIC
H1 2025
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