Declared Dividend • 10h
First half dividend of NZ$0.059 announced Shareholders will receive a dividend of NZ$0.059. Ex-date: 10th June 2026 Payment date: 25th June 2026 Dividend yield will be 15%, which is higher than the industry average of 3.1%. Sustainability & Growth Dividend is not covered by earnings (148% earnings payout ratio). However, it is covered by cash flows (88% cash payout ratio). The dividend has increased by an average of 2.6% per year over the past 10 years. However, payments have been volatile during that time. The company's earnings per share (EPS) would need to grow by 64% to bring the payout ratio under control. EPS is expected to grow by 48% over the next 3 years, which means the dividend may need to be reduced to reach a sustainable payout ratio. New Risk • May 22
New minor risk - Profit margin trend The company's profit margins are lower than last year and have reduced by more than 30%. Net profit margin: 9.4% Last year net profit margin: 15% This is considered a minor risk. A large drop in profit margin could indicate the company does not have strong competitive advantages or it is yet to establish itself and its core business. Even if it is a well established business, this may make it a much riskier investment than one that has a combination of proven competitive advantages and a stable or growing profit margin. Currently, the following risks have been identified for the company: Minor Risks Dividend is not well covered by earnings (148% payout ratio). Profit margins are more than 30% lower than last year (9.4% net profit margin). Significant insider selling over the past 3 months (AU$137k sold). Ankündigung • Apr 15
Tower Limited to Report First Half, 2026 Results on May 21, 2026 Tower Limited announced that they will report first half, 2026 results on May 21, 2026 Upcoming Dividend • Jan 07
Upcoming dividend of NZ$0.19 per share Eligible shareholders must have bought the stock before 14 January 2026. Payment date: 29 January 2026. The company is paying out more than 100% of its profits but is generating plenty of cash to support the dividend. Trailing yield: 12%. Within top quartile of Australian dividend payers (5.6%). Higher than average of industry peers (4.0%). Declared Dividend • Dec 24
Final dividend of NZ$0.19 announced Shareholders will receive a dividend of NZ$0.19. Ex-date: 14th January 2026 Payment date: 29th January 2026 Dividend yield will be 16%, which is higher than the industry average of 3.1%. Sustainability & Growth Dividend is not covered by earnings (105% earnings payout ratio). However, it is covered by cash flows (69% cash payout ratio). The dividend has increased by an average of 2.6% per year over the past 10 years. However, payments have been volatile during that time. The company's earnings per share (EPS) would need to grow by 17% to bring the payout ratio under control. However, EPS is expected to decline by 5.6% over the next 3 years, which means the dividend may need to be reduced to reach a sustainable payout ratio. Ankündigung • Dec 04
Tower Limited, Annual General Meeting, Feb 18, 2026 Tower Limited, Annual General Meeting, Feb 18, 2026. Location: and at tote on ascot, 100 ascot avenue,remuera, New Zealand Ankündigung • Oct 08
Tower Limited to Report Fiscal Year 2025 Results on Nov 27, 2025 Tower Limited announced that they will report fiscal year 2025 results on Nov 27, 2025 Ankündigung • Jun 11
Tower Limited Appoints Paul Johnston as Permanent Chief Executive Officer, Effective June 11, 2025 Tower Limited announced the appointment of Paul Johnston as its permanent Chief Executive Officer, effective 11 June, 2025. Since 12 February 2025, Mr. Johnston has served as interim CEO, demonstrating strong leadership and a clear commitment to advancing the company's performance. With 20 invaluable asset to Tower. Mr. Johnston joined Tower as Chief Financial Officer (CFO) in January 2022 from Chubb, one of the world's largest publicly traded property and casualty insurance companies, where he held the positions of Chief Financial Officer and Director for the Far East Region. Prior to his tenure at Chubb, Mr. Johnston spent four years at AIG in senior management positions. Tower Chairman, Michael Stiassny expressed strong confidence in Mr. Johnston's ability to lead the company. Ankündigung • Apr 07
Tower Limited to Report First Half, 2025 Results on May 20, 2025 Tower Limited announced that they will report first half, 2025 results on May 20, 2025 Upcoming Dividend • Jan 08
Upcoming dividend of NZ$0.065 per share Eligible shareholders must have bought the stock before 15 January 2025. Payment date: 30 January 2025. Payout ratio is a comfortable 51% and this is well supported by cash flows. Trailing yield: 9.6%. Within top quartile of Australian dividend payers (6.2%). Higher than average of industry peers (3.8%). Ankündigung • Nov 01
Tower Limited, Annual General Meeting, Feb 11, 2025 Tower Limited, Annual General Meeting, Feb 11, 2025. Ankündigung • Oct 17
Tower Limited to Report Fiscal Year 2024 Results on Nov 28, 2024 Tower Limited announced that they will report fiscal year 2024 results on Nov 28, 2024 Ankündigung • Oct 11
Tower Limited Provides Earnings Guidance for the Year Ending 30 September 2024 Tower Limited provided earnings guidance for the year ending 30 September 2024. For the year, the company expects profit to be around $74 million after allowing for an increase in payments related to customer remediations and associated costs, including those related to regulatory action. Ankündigung • Jun 13
Tower Limited Updates Earnings Guidance for the Year Ending September 30, 2024 Tower Limited updated earnings guidance for the year ending 30 September 2024. Full year underlying NPAT guidance is expected to be greater than $40 million, up from greater than $35 million as previously advised. This increase is due to a continuation of positive trading conditions including unseasonably benign weather in the past two months. While there were two storms in New Zealand in May, both had relatively insignificant claims costs for Tower, and the threshold for large events was not met. Upcoming Dividend • Jun 05
Upcoming dividend of NZ$0.03 per share Eligible shareholders must have bought the stock before 12 June 2024. Payment date: 27 June 2024. The company last paid an ordinary dividend in November 2013. The average dividend yield among industry peers is 3.4%. Ankündigung • Apr 16
Tower Limited to Report First Half, 2024 Results on May 28, 2024 Tower Limited announced that they will report first half, 2024 results on May 28, 2024 Ankündigung • Feb 21
Tower Limited Revises Earnings Guidance for the Fiscal Year 2024 Tower Limited revised earnings guidance for the fiscal year 2024. For the year, the company expects underlying NPAT to be at the upper end of, or exceed, the previously advised range of between $22 million and $27 million. This assumes full utilisation of a $45 million large events allowance. Ankündigung • Jan 16
Capital Insurance Group agreed to acquire TOWER Insurance (Vanuatu) Limited from Tower Limited (NZSE:TWR). Capital Insurance Group agreed to acquire TOWER Insurance (Vanuatu) Limited from Tower Limited (NZSE:TWR) on January 16, 2024. The sale proceeds are expected to be around $1.6 million, net of costs of sale, subject to adjustment for changes in the subsidiary’s net assets at the completion date. The transaction is conditional on approval by authorities in Vanuatu and Papua New Guinea. The transaction is expected to complete in the first half of 2024. Ankündigung • Dec 14
Tower Limited, Annual General Meeting, Feb 21, 2024 Tower Limited, Annual General Meeting, Feb 21, 2024, at 10:00 NZST - New Zealand Standard. Reported Earnings • Nov 27
Full year 2023 earnings released: EPS: NZ$0.006 (vs NZ$0.044 in FY 2022) Full year 2023 results: EPS: NZ$0.006 (down from NZ$0.044 in FY 2022). Revenue: NZ$412.2m (up 16% from FY 2022). Net income: NZ$2.35m (down 87% from FY 2022). Profit margin: 0.6% (down from 4.9% in FY 2022). Combined ratio: 101.0% (up from 90.1% in FY 2022). Revenue is forecast to grow 19% p.a. on average during the next 2 years, compared to a 2.3% growth forecast for the Insurance industry in Australia. Over the last 3 years on average, earnings per share has fallen by 12% per year but the company’s share price has increased by 1% per year, which means it is well ahead of earnings. Ankündigung • Nov 17
Tower Limited Announces Board Changes Tower Limited announced the appointment of Mike Cutter as an independent director to the Tower Board to fill a casual vacancy. Mr. Cutter has extensive governance and executive experience in the financial services sector across New Zealand, Australia, Asia and Europe. He is currently the Chair of Arteva Funding, a non-executive Director of Sezzle and Pepper Money and, is a co-founder of credit risk management consultancy, Kadre. Most recently, Mr. Cutter served as interim managing director for Bambora Australia and group managing director for Equifax ANZ. Previously, he served a number of Australian-based boards including Women's Cancer Foundation, Ovarian Cancer Institute, Australian Finance Congress, National Insurance Brokers Association and the Australian Retail Credit Association. Prior executive roles include CEO of OAMPS Insurance Brokers (now Gallagher), GE Money Australia and New Zealand and, CRO of ANZ Australia. Mr. Cutter is based in Melbourne and is a graduate of the Australian Institute of Company Directors and a senior fellow of the Financial Services Institute of Australia. He holds a Bachelor of Science (Hons) from Hertfordshire University. Tower's Board has determined that Mr. Cutter is an independent director. His appointment will be effective immediately. Tower CEO, Blair Turnbull will also step down from the Board. Mr. Turnbull was appointed to the Tower Board as an executive director pending the appointment of a new independent director in March 2023. Ankündigung • Jul 21
Tower Limited Revises Earnings Guidance for the Full Year of 2023 Tower Limited revised earnings guidance for the full year of 2023. Full year guidance is revised to a range of between a loss of $2 million and a profit of $3 million from a profit of between $8 million and $13 million, due to the ongoing challenging claims environment in New Zealand. Reported Earnings • May 31
First half 2023 earnings released: NZ$0.02 loss per share (vs NZ$0.007 profit in 1H 2022) First half 2023 results: NZ$0.02 loss per share (down from NZ$0.007 profit in 1H 2022). Revenue: NZ$205.8m (up 17% from 1H 2022). Net loss: NZ$7.44m (down 354% from profit in 1H 2022). Revenue is forecast to grow 17% p.a. on average during the next 3 years, compared to a 5.0% growth forecast for the Insurance industry in Australia. Over the last 3 years on average, earnings per share has fallen by 6% per year but the company’s share price has remained flat, which means it is well ahead of earnings. Ankündigung • Jan 30
Tower Limited Reaffirms Earnings Guidance for the Fiscal Year 2023 Tower Limited reaffirmed earnings guidance for the fiscal year 2023. The company's fiscal year 2023 full year guidance remains unchanged. Upcoming Dividend • Jan 12
Upcoming dividend of NZ$0.04 per share Eligible shareholders must have bought the stock before 17 January 2023. Payment date: 01 February 2023. The company is paying out more than 100% of its profits but is generating plenty of cash to support the dividend. Trailing yield: 11%. Within top quartile of Australian dividend payers (6.9%). Higher than average of industry peers (2.8%). Recent Insider Transactions • Dec 31
Chief Executive Officer recently sold AU$77k worth of stock On the 29th of December, Blair Turnbull sold around 116k shares on-market at roughly AU$0.66 per share. This transaction amounted to 31% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. This was Blair's only on-market trade for the last 12 months. Ankündigung • Dec 19
Tower Limited, Annual General Meeting, Feb 28, 2023 Tower Limited, Annual General Meeting, Feb 28, 2023, at 10:00 NZST - New Zealand Standard. Location: Guineas Room 3, Ellerslie Event Centre, Ellerslie Racecourse, 80 Ascot Avenue, Auckland New Zealand 
