Ryder Capital (RYD) AGM 2025 Presentation summary

FY25 financial highlights

• Share price increased to $1.30, up from $1.125, with a 24% share price return including dividends.

• Fully franked dividends paid rose to 9.5 cents per share, up from 8.25 cps.

• NTA per share climbed to $1.6272, up from $1.3875, with a 27.5% NTA return.

• Discount to pre-tax NTA stands at 20.11%.

• Gross assets reached $166.4 million, with a dividend yield of 6.13% FF.

Portfolio performance and activity

• Top contributors to FY25 performance included SRG Global, Fleetwood, BCI Minerals, and Macmahon.

• New purchases included The Reject Shop, Cuscal, OFX, Chrysos Corporation, Emeco, and Amplitude Energy.

• Exits included Austin, ServiceStream, PYC Therapeutics, Macmahon, Capitol Health, and Karoon Energy.

• 1-year NTA return to September 30th was +44.76%.

• Top 10 holdings accounted for 58.5% of the portfolio, with BCI Minerals as the largest at 15.05%.

Dividend policy and updates

• Policy aims for steady to increasing fully franked dividends.

• Moving to quarterly dividend payments from December 2025, with 3 cents per share fully franked each quarter.

• Annual dividend rate increases to 12 cents per share, a 20% rise from FY25.

• Imputation crediting rate increased to 30% due to growth in size and turnover.