Perpetual Equity Investment Company (PIC) H2 2026 earnings summary

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.