Recent Insider Transactions • Mar 28
Independent Non Executive Chairman recently bought AU$954k worth of stock On the 26th of March, Craig Drummond bought around 145k shares on-market at roughly AU$6.58 per share. This transaction increased Craig's direct individual holding by 2x at the time of the trade. This was the largest purchase by an insider in the last 3 months. This was Craig's only on-market trade for the last 12 months. Declared Dividend • Jan 23
First half dividend of AU$0.12 announced Shareholders will receive a dividend of AU$0.12. Ex-date: 2nd February 2026 Payment date: 26th February 2026 Dividend yield will be 4.4%, which is higher than the industry average of 3.9%. Sustainability & Growth Dividend is not covered by earnings (120% earnings payout ratio) nor is it covered by cash flows (130% cash payout ratio). The dividend has increased by an average of 2.3% 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. The company's earnings per share (EPS) would need to grow by 33% to bring the payout ratio under control, which is more than the 8.6% EPS growth achieved over the last 5 years. Announcement • Jan 21
Australian Foundation Investment Company Limited Announces Ordinary Dividend for the Six Months Ended December 31, 2025, Payable on February 26, 2026 Australian Foundation Investment Company Limited announced Ordinary Dividend of AUD 0.14500000 per share for Six Months Ended December 31, 2025, Payable on February 26, 2026. The ex-date is February 2, 2026 and record date is February 3, 2026. Announcement • Dec 02
Australian Foundation Investment Company Limited to Report First Half, 2026 Results on Jan 21, 2026 Australian Foundation Investment Company Limited announced that they will report first half, 2026 results on Jan 21, 2026 Announcement • Aug 28
Australian Foundation Investment Company Limited, Annual General Meeting, Sep 30, 2025 Australian Foundation Investment Company Limited, Annual General Meeting, Sep 30, 2025. Location: at level 2, club pavilion, 501 bourke street, melbourne, 3000 Australia Announcement • Jun 04
Australian Foundation Investment Company Limited to Report Second Half, 2025 Final Results on Jul 28, 2025 Australian Foundation Investment Company Limited announced that they will report second half, 2025 final results on Jul 28, 2025 Declared Dividend • Jan 26
First half dividend increased to AU$0.12 Dividend of AU$0.12 is 4.3% higher than last year. Ex-date: 3rd February 2025 Payment date: 25th February 2025 Dividend yield will be 3.5%, which is lower than the industry average of 3.9%. Sustainability & Growth Dividend is not covered by earnings (110% earnings payout ratio) nor is it covered by cash flows (112% cash payout ratio). The dividend has increased by an average of 1.7% 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. The company's earnings per share (EPS) would need to grow by 23% to bring the payout ratio under control. However, EPS has declined by 1.6% over the last 5 years so the company would need to reverse this trend. Announcement • Jan 22
Australian Foundation Investment Company Limited Announces Ordinary Dividend for Six Months Ended December 31, 2024, Payable on February 25, 2025 Australian Foundation Investment Company Limited announced Ordinary Dividend of AUD 0.12000000 per share for Six Months Ended December 31, 2024, Payable on February 25, 2025. The ex-date is February 3, 2025 and record date is February 4, 2025. Announcement • Dec 02
Australian Foundation Investment Company Limited to Report First Half, 2025 Results on Jan 22, 2025 Australian Foundation Investment Company Limited announced that they will report first half, 2025 results on Jan 22, 2025 Declared Dividend • Jul 31
Final dividend of AU$0.14 announced Shareholders will receive a dividend of AU$0.14. Ex-date: 14th August 2024 Payment date: 30th August 2024 Dividend yield will be 3.5%, which is lower than the industry average of 3.9%. Sustainability & Growth Dividend is not covered by earnings (109% earnings payout ratio) nor is it covered by cash flows (112% cash payout ratio). The dividend has increased by an average of 1.7% 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. The company's earnings per share (EPS) would need to grow by 22% to bring the payout ratio under control. However, EPS has declined by 7.0% over the last 5 years so the company would need to reverse this trend. Recent Insider Transactions • Mar 14
Independent Non-Executive Director recently bought AU$1.0m worth of stock On the 11th of March, Graeme Liebelt bought around 136k shares on-market at roughly AU$7.38 per share. This transaction amounted to 26% 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$1.5m more in shares than they have sold in the last 12 months. Declared Dividend • Jan 27
First half dividend increased to AU$0.12 Dividend of AU$0.12 is 4.5% higher than last year. Ex-date: 2nd February 2024 Payment date: 26th February 2024 Dividend yield will be 3.4%, which is lower than the industry average of 3.9%. Sustainability & Growth Dividend is not covered by earnings (107% earnings payout ratio) nor is it covered by cash flows (105% cash payout ratio). The dividend has increased by an average of 1.3% 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. The company's earnings per share (EPS) would need to grow by 19% to bring the payout ratio under control. However, EPS has declined by 5.9% over the last 5 years so the company would need to reverse this trend. Announcement • Jan 24
Australian Foundation Investment Company Limited Declares the Interim Dividend, Payable on 26 February 2024 Australian Foundation Investment Company Limited declared the interim dividend is AUD 0.11500000 per share for the period ended December 31, 2023. The dividend will be paid on 26 February 2024, record date of 5 February 2024 and of ex date of 2 February 2024. Announcement • Jan 22
Australian Foundation Investment Company Limited Appoints Richard Murray as Non- Executive Director The board of Australian Foundation Investment Company Limited announced that Mr. Richard Murray has been appointed as a Non- Executive Director of the Company, with effect from 22 January 2024. He has recently been appointed as CEO of Total Tools Holdings, commencing at the end of January 2024. Prior to this, his most recent executive role was as CEO and Executive Director of Premier Investments, a major ASX-listed owner of retail brands such as Smiggle, Just Jeans, Peter Alexander, Dotti and Portmans. Before his role at Premier Investments, Richard was the Group Chief Executive Officer and Executive Director of JB Hi-Fi, the major electronic and white-goods retailer. He had an 18- year career at JB Hi-Fi, including as Chief Financial Officer, taking the business through the IPO process. Prior to that he had roles for 10 years in the Corporate Finance and Assurance and Advisory practices at Deloitte. Richard holds a Bachelor of Commerce degree from Melbourne University, a Graduate Diploma in Applied Finance & Investment and is a qualified Chartered Accountant. Announcement • Dec 18
Australian Foundation Investment Company Limited Appoints Katie Hudson as Non-Executive Director, Effective 1 January 2024 The Board of Australian Foundation Investment Company Limited announced that Ms. Katie Hudson has been appointed as a Non-Executive Director of the Company, with effect from 1 January 2024. Katie is a portfolio manager for Yarra Capital Management focused on the small and midcap universe and, in addition, serves as Yarra Capital's Head of Australian Equities Research. Katie has more than 20 years of experience in investment markets, including roles as an equities research analyst and portfolio manager. Prior to transitioning to Yarra Capital Management, Katie was a portfolio manager and managing director at Goldman Sachs Asset Management and has previously worked as an equities analyst and partner at JBWere. Prior to this Katie spent seven years at PwC where she was a senior manager primarily focused on mergers and acquisitions advisory and transaction support. Katie is currently a director of Yarra Capital Management and the Hawthorn Football Club. Katie holds a Bachelor of Commerce from The University of Melbourne and was previously a qualified Chartered Accountant. Announcement • Dec 14
Australian Foundation Investment Company Limited to Report First Half, 2024 Results on Jan 24, 2024 Australian Foundation Investment Company Limited announced that they will report first half, 2024 results on Jan 24, 2024 Announcement • Aug 11
Australian Foundation Investment Company Limited Announces Board Resignations Australian Foundation Investment Company Limited announced Mr. John Paterson, the Chairman of the Company, and Ms. Catherine Walter AM, non-executive director, have both announced that they will not seek re-election at the 2023 Annual General Meeting and will retire at the conclusion of the meeting to be held on 3 October 2023. Mr. Paterson has been a Director since 2005, prior to that served as an Alternate Director from April 1987 to June 2005, and Chairman since October 2018. Mr. Paterson is Chairman of the Investment Committee and member of the Remuneration, Nomination and Audit Committees. He is also a non-executive director of the Company's subsidiary, Australian Investment Company Services Limited (AICS). Ms. Walter has been a Director since 2002 and is currently Chairman of the Nomination Committee and member of the Remuneration, Investment and Audit Committees. Upcoming Dividend • Aug 04
Upcoming dividend of AU$0.14 per share at 3.5% yield Eligible shareholders must have bought the stock before 11 August 2023. Payment date: 01 September 2023. Payout ratio is on the higher end at 100%, however this is supported by cash flows. Trailing yield: 3.5%. Lower than top quartile of Australian dividend payers (7.3%). Lower than average of industry peers (4.5%). New Risk • Jul 27
New major risk - Revenue and earnings growth Earnings have declined by 0.5% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 0.5% per year over the past 5 years. Minor Risk Dividend is not well covered by cash flows (98% cash payout ratio). Announcement • Jul 26
Australian Foundation Investment Company Limited Announces Distribution for the Six Months Ended June 30, 2023, Payable on September 1, 2023 Australian Foundation Investment Company Limited announced distribution of AUD 0.1400 per share for the six months ended June 30, 2023. Ex-date is August 11, 2023. Record date is August 14, 2023. Payment date is September 1, 2023. New Risk • Jul 25
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended December 2022. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Minor Risks Latest financial reports are more than 6 months old (reported December 2022 fiscal period end). Dividend is not well covered by cash flows (101% cash payout ratio). Recent Insider Transactions • Apr 21
Independent Non Executive Director recently bought AU$363k worth of stock On the 14th of April, Craig Drummond bought around 50k shares on-market at roughly AU$7.27 per share. This transaction increased Craig's direct individual holding by 4x at the time of the trade. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought AU$385k more in shares than they have sold in the last 12 months. Announcement • Jan 23
Australian Foundation Investment Company Limited Declares the Interim Dividend for the Period Ended December 31, 2022, Payable on 24 February 2023 Australian Foundation Investment Company Limited declared the interim dividend is 11 cents per share for the period ended December 31, 2022, fully franked, an increase from 10 cents last year. The dividend will be paid on 24 February 2023 to ordinary shareholders on the register on 3 February 2023 and the shares are expected to commence trading on an ex- dividend basis on 2 February 2023. There is no conduit foreign income component of the dividend. Announcement • Dec 07
Australian Foundation Investment Company Limited to Report First Half, 2023 Results on Jan 23, 2023 Australian Foundation Investment Company Limited announced that they will report first half, 2023 results on Jan 23, 2023 Upcoming Dividend • Aug 03
Upcoming dividend of AU$0.14 per share Eligible shareholders must have bought the stock before 10 August 2022. Payment date: 30 August 2022. Payout ratio and cash payout ratio are on the higher end at 82% and 80% respectively. Trailing yield: 3.0%. Lower than top quartile of Australian dividend payers (6.3%). Lower than average of industry peers (3.9%). Upcoming Dividend • Feb 02
Upcoming dividend of AU$0.10 per share Eligible shareholders must have bought the stock before 09 February 2022. Payment date: 25 February 2022. Payout ratio and cash payout ratio are on the higher end at 99% and 85% respectively. Trailing yield: 2.8%. Lower than top quartile of Australian dividend payers (5.6%). Lower than average of industry peers (3.5%). Board Change • Sep 15
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Independent Non Executive Director Craig Drummond was the last director to join the board, commencing their role in 2021. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Board Change • Sep 14
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Independent Non Executive Director Craig Drummond was the last director to join the board, commencing their role in 2021. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Board Change • Sep 12
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Independent Non Executive Director Craig Drummond was the last director to join the board, commencing their role in 2021. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Board Change • Sep 08
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Independent Non Executive Director Craig Drummond was the last director to join the board, commencing their role in 2021. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Board Change • Sep 06
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Independent Non Executive Director Craig Drummond was the last director to join the board, commencing their role in 2021. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Board Change • Sep 03
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Independent Non Executive Director Craig Drummond was the last director to join the board, commencing their role in 2021. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Upcoming Dividend • Aug 04
Upcoming dividend of AU$0.14 per share Eligible shareholders must have bought the stock before 11 August 2021. Payment date: 31 August 2021. Trailing yield: 2.8%. Lower than top quartile of Australian dividend payers (5.0%). In line with average of industry peers (3.1%). Board Change • Aug 02
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Independent Non Executive Director Craig Drummond was the last director to join the board, commencing their role in 2021. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Executive Departure • Jul 01
Non Executive Director Ross Barker has left the company On the 30th of June, Ross Barker was replaced as CEO by Robert Freeman after 16.9 years in the role. As of March 2021, Ross still personally held 913.87k shares (AU$5.2m worth at the time). Ross is the only executive to leave the company over the last 12 months. The current median tenure of the management team is 5.00 years. Under Ross' leadership, the company delivered a total shareholder return of 397%. Is New 90 Day High Low • Feb 22
New 90-day low: AU$7.05 The company is down 3.0% from its price of AU$7.30 on 24 November 2020. The Australian market is up 5.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Capital Markets industry, which is down 2.0% over the same period. Upcoming Dividend • Feb 01
Upcoming Dividend of AU$0.10 Per Share Will be paid on the 23rd of February to those who are registered shareholders by the 8th of February. The trailing yield of 3.2% is below the top quartile of Australian dividend payers (5.1%), but is in line with industry peers (2.9%). Is New 90 Day High Low • Jan 25
New 90-day high: AU$7.55 The company is up 15% from its price of AU$6.54 on 27 October 2020. The Australian market is up 12% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Capital Markets industry, which is up 3.0% over the same period. Is New 90 Day High Low • Jan 05
New 90-day high: AU$7.48 The company is up 18% from its price of AU$6.35 on 07 October 2020. The Australian market is up 13% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Capital Markets industry, which is up 9.0% over the same period. Is New 90 Day High Low • Nov 10
New 90-day high: AU$6.85 The company is up 8.0% from its price of AU$6.32 on 12 August 2020. The Australian market is up 4.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Capital Markets industry, which is up 5.0% over the same period. Is New 90 Day High Low • Oct 13
New 90-day high: AU$6.57 The company is up 8.0% from its price of AU$6.10 on 15 July 2020. The Australian market is up 5.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Capital Markets industry, which is up 5.0% over the same period. 
