Live News • May 29
MFF Capital Lifts Dividends With Solid Balance Sheet and Broader Portfolio Diversification MFF Capital plans to increase its fully franked interim dividend for FY26 from 10 cents to 11 cents, signalling a higher planned cash return to shareholders.
The company reports a strong balance sheet, with net cash and short-term assets exceeding liabilities, supporting its ability to fund dividends and investment opportunities.
Management points to the Montaka acquisition as a contributor to broader research coverage and portfolio diversification, while continuing to stress valuation discipline in a volatile macro backdrop.
A higher planned dividend alongside solid liquidity indicates that MFF Capital is prioritising consistent income for shareholders while keeping financial flexibility intact.
For you, the key watchpoints are how the Montaka integration influences portfolio outcomes and how the company applies its valuation discipline if asset prices come under pressure from macro or geopolitical shocks. Upcoming Dividend • Apr 14
Upcoming dividend of AU$0.10 per share Eligible shareholders must have bought the stock before 21 April 2026. Payment date: 13 May 2026. Payout ratio is a comfortable 43% and this is well supported by cash flows. Trailing yield: 4.3%. Lower than top quartile of Australian dividend payers (6.7%). Higher than average of industry peers (3.7%). Recent Insider Transactions • Apr 07
Portfolio Manager recently bought AU$471k worth of stock On the 31st of March, Christopher MacKay bought around 103k shares on-market at roughly AU$4.55 per share. This transaction amounted to less than 1% of their direct individual holding at the time of the trade. In the last 3 months, they made an even bigger purchase worth AU$1.9m. Insiders have collectively bought AU$9.6m more in shares than they have sold in the last 12 months. Recent Insider Transactions • Mar 08
Portfolio Manager recently bought AU$1.1m worth of stock On the 6th of March, Christopher MacKay bought around 244k shares on-market at roughly AU$4.71 per share. This transaction amounted to less than 1% of their direct individual holding at the time of the trade. In the last 3 months, they made an even bigger purchase worth AU$1.9m. Insiders have collectively bought AU$7.8m more in shares than they have sold in the last 12 months. Recent Insider Transactions • Feb 20
Portfolio Manager recently bought AU$1.9m worth of stock On the 20th of February, Christopher MacKay bought around 404k shares on-market at roughly AU$4.74 per share. This transaction amounted to less than 1% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought AU$7.0m more in shares than they have sold in the last 12 months. Declared Dividend • Feb 14
First half dividend of AU$0.10 announced Shareholders will receive a dividend of AU$0.10. Ex-date: 21st April 2026 Payment date: 13th May 2026 Dividend yield will be 4.1%, which is higher than the industry average of 3.9%. Sustainability & Growth Dividend is well covered by both earnings (43% earnings payout ratio) and cash flows (49% cash payout ratio). The dividend has increased by an average of 26% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. Earnings per share has grown by 35% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Reported Earnings • Feb 13
First half 2026 earnings released: EPS: AU$0.36 (vs AU$0.66 in 1H 2025) First half 2026 results: EPS: AU$0.36 (down from AU$0.66 in 1H 2025). Revenue: AU$305.5m (down 46% from 1H 2025). Net income: AU$209.7m (down 45% from 1H 2025). Profit margin: 69% (in line with 1H 2025). Over the last 3 years on average, earnings per share has increased by 34% per year but the company’s share price has only increased by 22% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Oct 01
Upcoming dividend of AU$0.09 per share Eligible shareholders must have bought the stock before 08 October 2025. Payment date: 31 October 2025. Payout ratio is a comfortable 23% and this is well supported by cash flows. Trailing yield: 3.7%. Lower than top quartile of Australian dividend payers (5.5%). In line with average of industry peers (3.5%). Announcement • Sep 18
MFF Capital Investments Limited, Annual General Meeting, Oct 20, 2025 MFF Capital Investments Limited, Annual General Meeting, Oct 20, 2025. Location: at the auditorium, dexus place, level 15, 1 farrer place, sydney, new south Australia Declared Dividend • Aug 16
Final dividend of AU$0.09 announced Shareholders will receive a dividend of AU$0.09. Ex-date: 8th October 2025 Payment date: 31st October 2025 Dividend yield will be 3.7%, which is about the same as the industry average. Sustainability & Growth Dividend is well covered by both earnings (2% earnings payout ratio) and cash flows (28% cash payout ratio). The dividend has increased by an average of 23% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. Earnings per share has grown by 74% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Recent Insider Transactions • Jun 21
Key Executive recently bought AU$1.4m worth of stock On the 20th of June, Christopher MacKay bought around 319k shares on-market at roughly AU$4.30 per share. This transaction amounted to less than 1% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Christopher has been a buyer over the last 12 months, purchasing a net total of AU$8.9m worth in shares. Recent Insider Transactions • Apr 19
Independent Non-Executive Director recently bought AU$213k worth of stock On the 15th of April, Peter Montgomery bought around 50k shares on-market at roughly AU$4.26 per share. This transaction amounted to 13% of their direct individual holding at the time of the trade. In the last 3 months, there was an even bigger purchase from another insider worth AU$1.2m. Insiders have collectively bought AU$9.7m more in shares than they have sold in the last 12 months. Upcoming Dividend • Apr 15
Upcoming dividend of AU$0.08 per share Eligible shareholders must have bought the stock before 22 April 2025. Payment date: 14 May 2025. Payout ratio is a comfortable 13% and this is well supported by cash flows. Trailing yield: 3.8%. Lower than top quartile of Australian dividend payers (6.7%). In line with average of industry peers (3.8%). Recent Insider Transactions • Mar 09
Key Executive recently bought AU$755k worth of stock On the 7th of March, Christopher MacKay bought around 173k shares on-market at roughly AU$4.37 per share. This transaction amounted to less than 1% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Christopher has been a buyer over the last 12 months, purchasing a net total of AU$7.9m worth in shares. Announcement • Feb 04
MFF Capital Investments Limited (ASX:MFF) completed the acquisition of Montaka Global Investments. MFF Capital Investments Limited (ASX:MFF) signed a letter of intent to acquire Montaka Global Investments on October 2, 2024. This acquisition is an exciting next step in Montaka’s development into a leading global equities investment firm and builds on its existing relationship with MFF. The transaction is expected to close in the first quarter of 2025.
MFF Capital Investments Limited (ASX:MFF) completed the acquisition of Montaka Global Investments on February 3, 2025. Declared Dividend • Feb 01
First half dividend of AU$0.08 announced Shareholders will receive a dividend of AU$0.08. Ex-date: 22nd April 2025 Payment date: 14th May 2025 Dividend yield will be 3.2%, which is lower than the industry average of 3.9%. Sustainability & Growth Dividend is well covered by both earnings (13% earnings payout ratio) and cash flows (23% cash payout ratio). The dividend has increased by an average of 23% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. Earnings per share has grown by 9.4% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Announcement • Jan 30
MFF Capital Investments Limited Declares Fully Franked Interim Dividend for the Period Ended 31 December 2024, Payable on 14 May 2025 On 30 January 2025, the Directors of MFF Capital Investments Limited declared a fully franked interim dividend, for the period ended 31 December 2024, of 8.0 cents per ordinary share (December 2023: fully franked interim dividend of 6 cents per ordinary share), which will be paid on 14 May 2025. Ex-dividend date: 22 April 2025. Record date: 23 April 2025. Recent Insider Transactions • Oct 06
Key Executive recently bought AU$5.0m worth of stock On the 4th of October, Christopher MacKay bought around 1m shares on-market at roughly AU$3.87 per share. This transaction amounted to 1.1% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Christopher has been a buyer over the last 12 months, purchasing a net total of AU$6.6m worth in shares. Announcement • Oct 03
MFF Capital Investments Limited (ASX:MFF) signed a letter of intent to acquire Montaka Global Investments MFF Capital Investments Limited (ASX:MFF) signed a letter of intent to acquire Montaka Global Investments on October 2, 2024. This acquisition is an exciting next step in Montaka’s development into a leading global equities investment firm and builds on its existing relationship with MFF. Upcoming Dividend • Oct 01
Upcoming dividend of AU$0.07 per share Eligible shareholders must have bought the stock before 08 October 2024. Payment date: 01 November 2024. Payout ratio is a comfortable 17% and this is well supported by cash flows. Trailing yield: 3.6%. Lower than top quartile of Australian dividend payers (5.9%). Higher than average of industry peers (3.1%). Declared Dividend • Jul 31
Final dividend of AU$0.07 announced Shareholders will receive a dividend of AU$0.07. Ex-date: 8th October 2024 Payment date: 1st November 2024 Dividend yield will be 3.4%, which is lower than the industry average of 3.9%. Sustainability & Growth Dividend is well covered by both earnings (2% earnings payout ratio) and cash flows (21% cash payout ratio). The dividend has increased by an average of 20% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. Earnings per share has grown by 14% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Recent Insider Transactions • May 27
Key Executive recently bought AU$564k worth of stock On the 24th of May, Christopher MacKay bought around 161k shares on-market at roughly AU$3.50 per share. This transaction amounted to less than 1% of their direct individual holding at the time of the trade. In the last 3 months, they made an even bigger purchase worth AU$917k. Christopher has been a buyer over the last 12 months, purchasing a net total of AU$1.5m worth in shares. Recent Insider Transactions • May 08
Key Executive recently bought AU$917k worth of stock On the 3rd of May, Christopher MacKay bought around 262k shares on-market at roughly AU$3.50 per share. This transaction amounted to less than 1% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. This was Christopher's only on-market trade for the last 12 months. Upcoming Dividend • Apr 15
Upcoming dividend of AU$0.06 per share Eligible shareholders must have bought the stock before 22 April 2024. Payment date: 14 May 2024. Payout ratio is a comfortable 14% and this is well supported by cash flows. Trailing yield: 3.3%. Lower than top quartile of Australian dividend payers (6.2%). Lower than average of industry peers (3.8%). Declared Dividend • Jan 27
First half dividend increased to AU$0.06 Dividend of AU$0.06 is 33% higher than last year. Ex-date: 22nd April 2024 Payment date: 14th May 2024 Dividend yield will be 3.4%, which is lower than the industry average of 3.9%. Sustainability & Growth Dividend is well covered by both earnings (14% earnings payout ratio) and cash flows (36% cash payout ratio). The dividend has increased by an average of 20% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. Earnings per share has grown by 32% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Announcement • Jan 25
MFF Capital Investments Limited Declares Fully Franked Interim Dividend for the Period Ended 31 December 2023, Payable on 14 May 2024; Announces Intention to Increase Dividend Rate for the Six Month Ending 30 June 2024 On 25 January 2024, the Directors of MFF Capital Investments Limited declared a fully franked interim dividend, for the period ended 31 December 2023, of 6.0 cents per ordinary share (December 2022: fully franked interim dividend of 4.5 cents per ordinary share), which will be paid on 14 May 2024. Ex-dividend date: 22 April 2024. Record date: 23 April 2024. On 25 January 2024, the Directors also announced their intention to increase the rate per share of the six monthly dividend to 7.0 cents fully franked for the period ending 30 June 2024, subject to corporate, legal and regulatory considerations, with continued operation of the DRP and BSP (at zero discount). Board Change • Nov 07
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 3 experienced directors. No highly experienced directors. Independent Non-Executive Chairman Sally Chaplain was the last director to join the board, commencing their role in 2019. The following issues are considered to be risks according to the Simply Wall St Risk Model: Insufficient board refreshment. Announcement • Jul 28
Mff Capital Investments Limited Announces Final Dividend, Payable on 3 November 2023 MFF Capital Investments Limited announced final dividend of 5.0 Cents per ordinary share. Ex-dividend date is 6 October 2023. Record date is 9 October 2023. Payment date is 3 November 2023. Announcement • Jan 31
Mff Capital Investments Limited Declares Fully Franked Interim Dividend, for the Period Ended 31 December 2022, Payable 12 May 2023 On 30 January 2023, the Directors of MFF Capital Investments Limited declared a fully franked interim dividend, for the period ended 31 December 2022, of 4.5 cents per ordinary share (December 2021: fully franked interim dividend of 3.5 cents per ordinary share), which will be paid on 12 May 2023. On 30 January 2023, the Directors stated their intention to increase the rate per ordinary share of the six monthly dividend from the current rate of 4.5 cents per ordinary share as follows: 5 cents fully franked for the period ending 30 June 2023, 5.5 cents fully franked for the period ending 31 December 2023, and 6 cents fully franked for the period ending 30 June 2024; subject in each case, to corporate, legal and regulatory considerations, with continued operation of the DRP (at zero discount). Announcement • Oct 15
MFF Capital Investments Limited Announces Distribution for the Period Ended June 30, 2022, Payable on November 4, 2022 MFF Capital Investments Limited announced distribution of AUD 0.04000000 per security for the period ended June 30, 2022. Ex-date is April 23, 2021. Record date is October 10, 2022. Payment date is November 4, 2022. Ex Date is October 7, 2022. Announcement • Jul 28
MFF Capital Investments Limited Announces Fully Franked Final Dividend for the Period Ended 30 June 2022, Payable on 4 November 2022 and Provides Interim Dividend Guidance for 2023 MFF Capital Investments Limited announced that on 27 July 2022, the Directors declared an increased fully franked final dividend, for the period ended 30 June 2022, of 4.0 cents per ordinary share (June 2021: fully franked final dividend of 3.5 cents per ordinary share), which will be paid on 4 November 2022. The amount of the proposed dividend, based on the number of ordinary shares on issue at 30 June 2022, is $23,374,000. The Dividend Reinvestment Plan ("DRP") will operate in conjunction with this dividend and no discount will be applied for the DRP. The record date for the dividend is 10 October 2022 and ex-dividend date is 7 October 2022.For the 2023, the directors also reiterated their intention to increase the rate of the six monthly dividend from the current rate of 4.0 cents per ordinary share to 4.5 cents per ordinary share for the 2023 interim dividend and to 5.0 cents per ordinary share thereafter, subject to corporate, legal and regulatory considerations, with continued operation of the DRP (at zero discount). Announcement • Jun 03
MFF Capital Investments Limited Announces Resignation of Mariana Kolaroski as Joint Company Secretary MFF Capital Investments Limited announced that Ms. Mariana Kolaroski has resigned as Company Secretary of the Company effective from the close of business on 3 June, 2022. Ms. Marcia Venegas continues in the role of Company Secretary of the Company and remains responsible under Listing Rule 12.6 for communication with the ASX with regard to ASX Listing Rule matters. Announcement • Nov 17
MFF Capital Investments Limited to Report First Half, 2020 Results on Jan 28, 2021 MFF Capital Investments Limited announced that they will report first half, 2020 results on Jan 28, 2021 Announcement • Nov 16
MFF Capital Investments Limited, Annual General Meeting, Oct 01, 2021 MFF Capital Investments Limited, Annual General Meeting, Oct 01, 2021. Announcement • Oct 06
MFF Capital Investments Limited Announces Audit and Risk Committee Changes As discussed in MFF Capital Investments Limited's 2020 Annual Report, Mr. Andy Hogendijk, Independent Non-Executive Director and Chairman of the Audit and Risk Committee retired at the conclusion of MFF's AGM on 2 October 2020. Robert Fraser, Independent Non-Executive Director and member of MFF's Audit and Risk Committee has been appointed Chairman of the Audit and Risk Committee. Peter Montgomery AM, Independent Non-Executive Director has been appointed to the Audit and Risk Committee. The members of the MFF Board and of the Audit and Risk Committee are as follows: Annabelle Chaplain AM, Chairman and Independent Non-Executive Director Robert Fraser, Independent Non-Executive Director and Chairman of the Audit and Risk Committee; John Ballard, Independent Non-Executive Director and member of the Audit and Risk Committee; Peter Montgomery AM, Independent Non-Executive Director and member of the Audit and Risk Committee; and Chris Mackay, Managing Director and Portfolio Manager. 