Sandon Capital Investments (SNC) H2 2026 earnings summary

Executive summary

• Fully franked dividends maintained despite a -14.6% gross portfolio return before fees, expenses, and taxes for FY26.

• Portfolio performance improved in early FY27, with a 3.5% gross return for July 2026.

• Directors reaffirmed commitment to regular fully franked dividend payments, supported by strong profit reserves and franking credits.

Financial highlights

• Gross portfolio return for FY26 was -14.6% before fees, expenses, and taxes, underperforming the Small Ordinaries Accumulation Index (+8.1%) and All Ordinaries Accumulation Index (+5.7%).

• Fully franked dividends of 5.63 cents per share paid in the 12 months to 30 June 2026.

• Shares offer an 8.1% fully franked yield, or 10.7% including franking credits, at a 5.9% discount to pre-tax NTA.

Outlook and guidance

• FY27 began positively with a 3.5% gross portfolio return for July 2026.

• Directors intend to continue paying fully franked dividends in the coming months.

• Investment manager remains confident in future returns, emphasizing patience and discipline.