Announcement • Feb 25
Vulcan Steel Limited Announces Ordinary Fully Franked Dividend for the Six Months Ended December 31, 2025, Payable on March 26, 2026 Vulcan Steel Limited announced ordinary fully franked dividend of NZD 0.02941176 per security for the six months ended December 31, 2025. Record Date: March 12, 2026, Ex Date: March 11, 2026 and Payment Date: March 26, 2026. Announcement • Jan 28
Vulcan Steel Limited to Report First Half, 2026 Results on Feb 24, 2026 Vulcan Steel Limited announced that they will report first half, 2026 results on Feb 24, 2026 Declared Dividend • Aug 28
Final dividend of AU$0.038 announced Shareholders will receive a dividend of AU$0.038. Ex-date: 8th October 2025 Payment date: 22nd October 2025 Dividend yield will be 1.0%, which is lower than the industry average of 5.1%. Payout Ratios Payout ratio: 50%. Cash payout ratio: 9%. Announcement • Aug 27
Vulcan Steel Limited, Annual General Meeting, Oct 31, 2025 Vulcan Steel Limited, Annual General Meeting, Oct 31, 2025. Reported Earnings • Aug 26
Full year 2025 earnings released: EPS: NZ$0.12 (vs NZ$0.30 in FY 2024) Full year 2025 results: EPS: NZ$0.12 (down from NZ$0.30 in FY 2024). Revenue: NZ$948.2m (down 11% from FY 2024). Net income: NZ$15.7m (down 61% from FY 2024). Profit margin: 1.7% (down from 3.8% in FY 2024). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 8.9% p.a. on average during the next 3 years, compared to a 5.2% growth forecast for the Metals and Mining industry in Australia. Over the last 3 years on average, earnings per share has fallen by 62% per year but the company’s share price has only fallen by 5% per year, which means it has not declined as severely as earnings. Announcement • Aug 12
Vulcan Steel Limited to Report Fiscal Year 2025 Results on Aug 26, 2025 Vulcan Steel Limited announced that they will report fiscal year 2025 results on Aug 26, 2025 Declared Dividend • Feb 13
First half dividend of NZ$0.026 announced Shareholders will receive a dividend of NZ$0.026. Ex-date: 13th March 2025 Payment date: 27th March 2025 Dividend yield will be 1.9%, which is lower than the industry average of 5.1%. Sustainability & Growth Dividend is covered by both earnings (83% earnings payout ratio) and cash flows (28% cash payout ratio). The dividend has decreased over the past 36 years, indicating a lack of growth and stability in payments. EPS is expected to grow by 319% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Feb 12
First half 2025 earnings released: EPS: NZ$0.07 (vs NZ$0.20 in 1H 2024) First half 2025 results: EPS: NZ$0.07 (down from NZ$0.20 in 1H 2024). Revenue: NZ$493.0m (down 13% from 1H 2024). Net income: NZ$9.18m (down 65% from 1H 2024). Profit margin: 1.9% (down from 4.6% in 1H 2024). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 9.1% p.a. on average during the next 3 years, compared to a 3.9% growth forecast for the Metals and Mining industry in Australia. Over the last 3 years on average, earnings per share has fallen by 41% per year but the company’s share price has only fallen by 7% per year, which means it has not declined as severely as earnings. Announcement • Feb 11
Vulcan Steel Limited Announces Ordinary Fully Franked Dividend for the Six Months Ended December 31, 2024, Payable on March 27, 2025 Vulcan Steel Limited announced ordinary fully franked dividend of NZD 0.02588235 per security for the six months ended December 31, 2024. Record Date: March 14, 2025, Ex Date: March 13, 2025 and Payment Date: March 27, 2025. Announcement • Jan 29
Vulcan Steel Limited to Report First Half, 2025 Results on Feb 11, 2025 Vulcan Steel Limited announced that they will report first half, 2025 results on Feb 11, 2025 Upcoming Dividend • Sep 19
Upcoming dividend of AU$0.14 per share Eligible shareholders must have bought the stock before 26 September 2024. Payment date: 10 October 2024. Payout ratio is on the higher end at 79%, however this is supported by cash flows. Trailing yield: 3.0%. Lower than top quartile of Australian dividend payers (6.0%). Lower than average of industry peers (5.7%). Announcement • Sep 10
Vulcan Steel Limited Announces Executive Appointments Vulcan Steel Limited appointed Gavin Street as the company's Chief Commercial Officer (CCO). As Vulcan's CCO, Gavin will be responsible for the company's commercial activities, including engagement with customers and business strategy. Gavin will commence his employment with Vulcan in early October 2024 and will be based in Melbourne, Australia. Prior to joining Vulcan, Gavin held a number of leadership positions including Chief Executive Officer (CEO) roles at Lawrence & Hanson Australia (L&H) and Reece Group's Australia and New Zealand operations (Reece ANZ). In his most recent role at L&H, Gavin was responsible for more than 150 branches and over 1,100 employees. As CEO of Reece ANZ, Gavin had responsibility for more than 630 branches and over 5,000 employees. During Gavin's tenure at Reece Group, he was also Group Chief Financial Officer (CFO) and Chief Technology Officer. Prior to Reece Group, Gavin was CFO at Westpac New Zealand. This appointment at Vulcan follows the confirmation of Lou Cadman as the company's New Zealand leader with overall responsibility for Vulcan's businesses in New Zealand from August 2024. Lou joined Vulcan as the company's New Zealand aluminium leader in March 2024. Before joining Vulcan, Lou was CEO for eight years at New Zealand Panels Group and was responsible for over 300 employees. Lou had also previously held senior roles at Fletcher Building, Fletcher Challenge Forestry division and Southern Spars. Declared Dividend • Aug 29
Final dividend of AU$0.14 announced Shareholders will receive a dividend of AU$0.14. Ex-date: 26th September 2024 Payment date: 10th October 2024 Dividend yield will be 4.0%, which is lower than the industry average of 5.1%. Sustainability & Growth Dividend is covered by both earnings (79% earnings payout ratio) and cash flows (22% cash payout ratio). The dividend has decreased over the past 36 years, indicating a lack of growth and stability in payments. EPS is expected to grow by 131% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Announcement • Aug 28
Vulcan Steel Limited, Annual General Meeting, Nov 01, 2024 Vulcan Steel Limited, Annual General Meeting, Nov 01, 2024. Reported Earnings • Aug 28
Full year 2024 earnings released: EPS: NZ$0.30 (vs NZ$0.67 in FY 2023) Full year 2024 results: EPS: NZ$0.30 (down from NZ$0.67 in FY 2023). Revenue: NZ$1.06b (down 14% from FY 2023). Net income: NZ$40.0m (down 55% from FY 2023). Profit margin: 3.8% (down from 7.1% in FY 2023). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 4.9% p.a. on average during the next 3 years, compared to a 1.4% growth forecast for the Metals and Mining industry in Australia. Announcement • Aug 07
Vulcan Steel Limited to Report Fiscal Year 2024 Results on Aug 27, 2024 Vulcan Steel Limited announced that they will report fiscal year 2024 results on Aug 27, 2024 Announcement • Mar 14
Vulcan Steel Limited Announces Resignation of Russell Chenu as Director Vulcan Steel Limited announced resignation of Russell Chenu as director. Date of last notice is 8 December 2023. Upcoming Dividend • Feb 22
Upcoming dividend of AU$0.13 per share Eligible shareholders must have bought the stock before 29 February 2024. Payment date: 21 March 2024. Payout ratio is on the higher end at 94%, however this is supported by cash flows. Trailing yield: 5.3%. Lower than top quartile of Australian dividend payers (6.7%). In line with average of industry peers (5.3%). Reported Earnings • Feb 16
First half 2024 earnings released: EPS: NZ$0.20 (vs NZ$0.41 in 1H 2023) First half 2024 results: EPS: NZ$0.20 (down from NZ$0.41 in 1H 2023). Revenue: NZ$564.0m (down 12% from 1H 2023). Net income: NZ$26.1m (down 52% from 1H 2023). Profit margin: 4.6% (down from 8.5% in 1H 2023). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 4.1% p.a. on average during the next 3 years, while revenues in the Metals and Mining industry in Australia are expected to remain flat. Announcement • Feb 13
Vulcan Steel Limited Announces Ordinary Dividend for the Six Months December 31, 2023, Payable on March 21, 2024 Vulcan Steel Limited announced ordinary dividend of NZ 12 cents per share for the six months December 31, 2023. Ex Date is February 29, 2024. Record Date is March 1, 2024. Payment Date is March 21, 2024.. Announcement • Jan 25
Vulcan Steel Limited to Report First Half, 2024 Results on Feb 13, 2024 Vulcan Steel Limited announced that they will report first half, 2024 results on Feb 13, 2024 Upcoming Dividend • Sep 20
Upcoming dividend of AU$0.31 per share at 6.6% yield Eligible shareholders must have bought the stock before 27 September 2023. Payment date: 12 October 2023. Payout ratio is on the higher end at 82%, however this is supported by cash flows. Trailing yield: 6.6%. Lower than top quartile of Australian dividend payers (7.1%). Higher than average of industry peers (5.5%). Board Change • Sep 12
Less than half of directors are independent Following the recent departure of a director, there are only 3 independent directors on the board. The company's board is composed of: 3 independent directors. 4 non-independent directors. Independent Non-Executive Director Carolyn Steele was the last independent director to join the board, commencing their role in 2021. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Announcement • Sep 05
Vulcan Steel Limited Appoints Nicola Greer to Board, Effective from 5 September 2023 Vulcan Steel Limited has appointed Nicola Greer as a director effective from 5 September 2023. Nicola is a professional company director, currently holding directorships with Precinct Properties New Zealand Limited, Fidelity Life Assurance Company Limited, South Port NZ Limited, New Zealand Railways Corporation, and is a member of the New Zealand Markets Disciplinary Tribunal. She was previously a director of Airways Corporation NZ and Heartland Bank Limited. Nicola is also a shareholder and director in a privately owned commercial property investment and development company. Prior to embarking on her governance career, Nicola worked in New Zealand, Australia and the United Kingdom in the banking and finance sectors, holding a range of senior roles within financial markets and asset and liability management at ANZ Bank, Citibank and Goldman Sachs. Nicola holds a Master of Commerce with First Class Honours in Management Science from Canterbury University. The appointment of Nicola as a Vulcan director reinstates Vulcan's Board composition to a majority of independent directors. Reported Earnings • Aug 29
Full year 2023 earnings released: EPS: NZ$0.007 (vs NZ$0.94 in FY 2022) Full year 2023 results: EPS: NZ$0.007 (down from NZ$0.94 in FY 2022). Revenue: NZ$1.24b (up 28% from FY 2022). Net income: NZ$87.9m (down 29% from FY 2022). Profit margin: 7.1% (down from 13% in FY 2022). The decrease in margin was driven by higher expenses. Revenue is expected to decline by 3.4% p.a. on average during the next 2 years, while revenues in the Metals and Mining industry in Australia are expected to grow by 2.3%. Valuation Update With 7 Day Price Move • Jul 20
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to AU$7.25, the stock trades at a forward P/E ratio of 12x. Average forward P/E is 10x in the Metals and Mining industry in Australia. Total loss to shareholders of 4.4% over the past year. Simply Wall St's valuation model estimates the intrinsic value at AU$5.84 per share. Announcement • Jul 17
Vulcan Steel Limited to Report Fiscal Year 2023 Results on Aug 29, 2023 Vulcan Steel Limited announced that they will report fiscal year 2023 results on Aug 29, 2023 Upcoming Dividend • Mar 02
Upcoming dividend of AU$0.26 per share at 9.3% yield Eligible shareholders must have bought the stock before 09 March 2023. Payment date: 06 April 2023. Payout ratio is a comfortable 65% but the company is not cash flow positive. Trailing yield: 9.3%. Within top quartile of Australian dividend payers (7.0%). Higher than average of industry peers (8.2%). Reported Earnings • Feb 14
First half 2023 earnings released First half 2023 results: Revenue: NZ$638.0m (up 38% from 1H 2022). Net income: NZ$54.4m (flat on 1H 2022). Profit margin: 8.5% (down from 12% in 1H 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 2.4% p.a. on average during the next 3 years, while revenues in the Metals and Mining industry in Australia are expected to remain flat. Announcement • Feb 14
Vulcan Steel Limited Announces Ordinary Franked Dividend for the Six Months December 31, 2022, Payable on April 6, 2023 Vulcan Steel Limited announced ordinary franked dividend of NZD 0.28823500 per share for the six months December 31, 2022. Ex Date is March 9, 2023. Record Date is March 10, 2023. Payment Date is April 6, 2023. Announcement • Jan 23
Vulcan Steel Limited to Report First Half, 2023 Results on Feb 14, 2023 Vulcan Steel Limited announced that they will report first half, 2023 results on Feb 14, 2023 Board Change • Oct 27
Less than half of directors are independent Following the recent departure of a director, there are only 3 independent directors on the board. The company's board is composed of: 3 independent directors. 4 non-independent directors. Independent Non-Executive Director Carolyn Steele was the last independent director to join the board, commencing their role in 2021. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Recent Insider Transactions • Sep 20
Independent Non-Executive Director recently sold AU$521k worth of stock On the 16th of September, Philippa Greenwood sold around 60k shares on-market at roughly AU$8.68 per share. This transaction amounted to 67% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of AU$487k more than they bought in the last 12 months. Upcoming Dividend • Sep 15
Upcoming dividend of AU$0.38 per share Eligible shareholders must have bought the stock before 22 September 2022. Payment date: 07 October 2022. Payout ratio is a comfortable 69% but the company is not cash flow positive. Trailing yield: 10.0%. Within top quartile of Australian dividend payers (6.7%). In line with average of industry peers (9.6%). Reported Earnings • Aug 25
Full year 2022 earnings released: EPS: NZ$0.94 (vs NZ$0.49 in FY 2021) Full year 2022 results: EPS: NZ$0.94 (up from NZ$0.49 in FY 2021). Revenue: NZ$972.7m (up 33% from FY 2021). Net income: NZ$124.0m (up 91% from FY 2021). Profit margin: 13% (up from 8.9% in FY 2021). The increase in margin was driven by higher revenue. Over the next year, revenue is forecast to grow 15%, compared to a 79,973% growth forecast for the Metals and Mining industry in Australia. Reported Earnings • Feb 11
First half 2022 earnings released First half 2022 results: Revenue: (flat on 1H 2021). Net income: (flat on 1H 2021). Profit margin: (in line with 1H 2021). Over the next year, revenue is forecast to grow 6.6%, compared to a 29% growth forecast for the industry in Australia. 
