Announcement • Jul 01
Heartland Group Holdings Limited to Report Fiscal Year 2026 Results on Aug 20, 2026 Heartland Group Holdings Limited announced that they will report fiscal year 2026 results on Aug 20, 2026 New Risk • Jun 05
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of German stocks, typically moving 8.6% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Share price has been volatile over the past 3 months (8.6% average weekly change). Announcement • Jun 04
Heartland Group Holdings Limited (NZSE:HGH) signed a conditional merger implementation agreement to acquire TSB Bank Limited from Toi Foundation Holdings Limited for approximately NZD 600 million. Heartland Group Holdings Limited (NZSE:HGH) signed a conditional merger implementation agreement to acquire TSB Bank Limited from Toi Foundation Holdings Limited for approximately NZD 600 million on June 2, 2026. A cash consideration of NZD 50 million will be paid by Heartland Group Holdings Limited. The consideration consists of 200 million common equity of Heartland Group Holdings Limited to be issued for common equity and non-convertible debt of Heartland Group Holdings Limited having a value of NZD 56 million to be issued for common equity of TSB Bank Limited. The consideration consists of a NZD 264 million vendor loan provided by Toi Foundation Holdings Limited to Heartland Group Holdings Limited. As part of consideration, NZD 598 million is paid towards common equity of TSB Bank Limited.
The transaction is subject to approval of offer by acquirer shareholders and approval by regulatory board / committee. The expected completion of the transaction is December 2026. Synergy realisation and the transaction structure are expected to drive material normalised earnings per share accretion for Heartland shareholders, alongside an enhanced dividend per share profile.
Jarden Partners Limited acted as financial advisor for Heartland Group Holdings Limited. Chapman Tripp acted as legal advisor for Heartland Group Holdings Limited. Deloitte Touche Tohmatsu New Zealand, Investment Banking Arm acted as due diligence provider for Heartland Group Holdings Limited. Declared Dividend • Mar 02
First half dividend of NZ$0.041 announced Shareholders will receive a dividend of NZ$0.041. Ex-date: 5th March 2026 Payment date: 20th March 2026 Dividend yield will be 8.9%, which is higher than the industry average of 4.8%. Sustainability & Growth Dividend is covered by earnings (62% payout ratio) and is expected to be covered in 3 years' time (61% forecast payout ratio). The dividend has decreased over the past 10 years, indicating a lack of growth and stability in payments. EPS is expected to grow by 42% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Mar 02
First half 2026 earnings released: EPS: NZ$0.052 (vs NZ$0.004 in 1H 2025) First half 2026 results: EPS: NZ$0.052 (up from NZ$0.004 in 1H 2025). Revenue: NZ$162.5m (up 55% from 1H 2025). Net income: NZ$48.8m (up NZ$45.2m from 1H 2025). Profit margin: 30% (up from 3.5% in 1H 2025). The increase in margin was driven by higher revenue. Revenue is forecast to grow 11% p.a. on average during the next 3 years, compared to a 6.3% growth forecast for the Banks industry in Europe. Announcement • Feb 26
Heartland Group Holdings Limited Announces Unfranked Ordinary Fully Paid Foreign Exempt Dividend for the Six Months Ended December 31, 2025, Payable on March 20, 2026 Heartland Group Holdings Limited announced unfranked ordinary fully paid foreign exempt dividend of NZD 0.04117647 per share for the six months ended December 31, 2025. Ex Date is March 5, 2026; Record Date is March 6, 2026; Payment Date is March 20, 2026. Announcement • Jan 28
Heartland Group Holdings Limited to Report First Half, 2026 Results on Feb 26, 2026 Heartland Group Holdings Limited announced that they will report first half, 2026 results on Feb 26, 2026 Board Change • Nov 17
High number of new and inexperienced directors There are 5 new directors who have joined the board in the last 3 years. The company's board is composed of: 5 new directors. 3 experienced directors. No highly experienced directors. Non-Independent & Non-Executive Chairman Greg Tomlinson is the most experienced director on the board, commencing their role in 2018. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors. Announcement • Aug 23
Heartland Group Holdings Limited Announces Ordinary Dividend for the Six Months Period Ended June 30, 2025, Payable on September 12, 2025 Heartland Group Holdings Limited announced the ordinary dividend of NZD 0.02352941 per share for the six months period ended June 30, 2025, payable on September 12, 2025. Record Date is on August 29, 2025 with Ex date on August 28, 2025. Announcement • Jan 30
Heartland Group Holdings Limited to Report First Half, 2025 Results on Feb 27, 2025 Heartland Group Holdings Limited announced that they will report first half, 2025 results on Feb 27, 2025 Announcement • Sep 26
Heartland Group Holdings Limited Announces CEO Changes Heartland Group Holdings Limited has announced the appointment of a new CEO. The firm has announced the appointment of Andrew Dixson as chief executive officer. The new executive is to take charge on October 1, 2024. In April 2024, Jeff Greenslade indicated to the Board his intention to step down from his role as CEO of Heartland by the end of this calendar year. Andrew's appointment enables a thorough handover to be completed sooner, allowing Jeff to retire earlier. Jeff will retire from his role and all Heartland directorships on 30 September 2024. Andrew will succeed Jeff as CEO of Heartland and be appointed a Non-Independent Non-Executive Director of Heartland Bank Limited (Heartland Bank), effective 1 October 2024. Andrew joins strong leadership across the group, which includes Heartland Bank CEO Leanne Lazarus and Heartland Bank Australia Limited (Heartland Bank Australia) CEO Michelle Winzer. Andrew, currently Group Chief Financial Officer, has been with Heartland since 2010. In his time at Heartland, Andrew has been involved in all key parts of Heartland's evolution, including the initial merger in 2011, New Zealand bank registration in 2012 and Heartland's listing on the NZX and ASX. Andrew has also played a critical role in the execution of several major strategic acquisitions, including the acquisition of the Reverse Mortgage businesses in 2014, StockCo Australia in 2022 and Challenger Bank Limited (Challenger Bank) in 2024. Andrew's focus as CEO will be on group strategy, investor relations, corporate finance, capital allocation, and strategic and risk management oversight of each bank. The Group Chief Financial Officer role will not be replaced. Announcement • Aug 29
Heartland Group Holdings Limited Declares Final Dividend for Fiscal Year 2024, Payable on 20 September 2024 Heartland Group Holdings Limited has declared a fiscal year 2024 final dividend of 3.0 cent per share, down 3.0 cent per share on Fiscal Year 2023. The final dividend will be paid on 20 September 2024 (Payment Date) to shareholders on the company's register as on Friday 6 September 2024 (Record Date). Announcement • May 24
Heartland Group Holdings Limited Intends to Appoint Robert (Rob) Bell and Simon Beckett as Independent, Non-Executive Directors, Effective 27 June 2024 Heartland Group Holdings Limited announced that it intends to appoint Robert (Rob) Bell and Simon Beckett as independent, non-executive directors (subject to Reserve Bank of New Zealand non-objection), with effect from 27 June 2024. Rob is an accomplished banking executive with 20 years' experience in senior leadership roles across the listed environment, a mutual bank and a digital bank. Rob was the founding CEO of digital bank 86 400 and has a deep understanding of technology, digital and growth strategies. Prior to 86 400, Rob held executive and chief executive roles at Cuscal, Australian Unity Bank and ANZ, including CEO positions at both ANZ Japan and ANZ Fiji. Rob is currently a non-executive director of HFC Bank. With his extensive Australian banking experience, Rob brings to Heartland a strong understanding of the Australian banking market and regulatory environment. Simon has 30 years of experience in financial services, including in executive leadership positions within multinational corporates. Simon brings deep M&A experience and extensive financial, regulatory, risk and governance expertise, with a career spent in regulated businesses or markets delivering optimal outcomes for shareholders. Simon is currently a non-executive director at ORDE Financial. Simon's extensive financial services experience extends across multiple functions and countries including in the US, UK, Europe, Asia, Australia, and New Zealand, including at Wells Fargo and GE Capital. He has also had particular experience working in motor finance businesses during his executive career at GE Capital, Wells Fargo and Cerberus Capital. The appointment of Rob and Simon will provide Heartland with two additional independent directors, further contributing to the depth of expertise and skill of the Board and strengthening the Board's Australian expertise. Announcement • Apr 30
Heartland Group Holdings Limited (NZSE:HGH) completed the acquisition of Challenger Bank Limited from Challenger Limited (ASX:CGF) Heartland Group Holdings Limited (NZSE:HGH) signed a conditional share purchase agreement for the purchase of Challenger Bank Limited from Challenger Limited (ASX:CGF) for AUD 36 million on October 20, 2022. Upon completion Heartland’s existing Reverse Mortgage and Livestock businesses in Australia will be transferred to sit in or under Challenger Bank. For regulatory reasons, Heartland will be required to hold Challenger Bank through an Australian incorporated non-operating holding company (NOHC) which is approved and regulated by the Australian Prudential Regulatory Authority. Heartland’s intention is to cover the costs of the acquisition through existing resources. The share purchase agreement is subject to obtaining the requisite regulatory approvals in Australia and New Zealand. Corrs Chambers Westgarth acted as legal advisor, Jarden Partners Limited acted as financial advisor and Deloitte & Touche Netherlands acted as accountant to Heartland Group Holdings Limited. Deal is expected to settle in 2H23. In April 2023, Challenger received approval from APRA to release AUD 50 million of excess Bank capital, which was injected into Challenger Life. The remaining excess capital of approximately AUD 40 million is expected, subject to regulatory approvals in Australia and New Zealand, to be returned
to Challenger prior to or on completion of the sale providing additional financial flexibility to support growth in the Life business. As of August 15, 2023, the transaction is expected to complete in H1, 2024. As of April 8, 2024
Challenger Bank Limited has received indictive approval from Australian Prudential Regulation Authority and the Reserve Bank of New Zealand subject to Heartland receiving final regulatory approvals from APRA and the RBNZ and is expected to complete by April 30, 2024.
Heartland Group Holdings Limited (NZSE:HGH) completed the acquisition of Challenger Bank Limited from Challenger Limited (ASX:CGF) on April 30, 2024. Announcement • Apr 09
Heartland Group Holdings Limited has filed a Follow-on Equity Offering in the amount of NZD 210.037815 million. Heartland Group Holdings Limited has filed a Follow-on Equity Offering in the amount of NZD 210.037815 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 105,037,815
Price\Range: NZD 1
Discount Per Security: NZD 0.025
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 105,000,000
Price\Range: NZD 1
Discount Per Security: NZD 0.025
Transaction Features: Rights Offering; Subsequent Direct Listing Reported Earnings • Mar 01
First half 2024 earnings released: EPS: NZ$0.053 (vs NZ$0.073 in 1H 2023) First half 2024 results: EPS: NZ$0.053 (down from NZ$0.073 in 1H 2023). Revenue: NZ$119.1m (down 10% from 1H 2023). Net income: NZ$37.6m (down 23% from 1H 2023). Profit margin: 32% (down from 37% in 1H 2023). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 9.4% p.a. on average during the next 3 years, compared to a 3.0% growth forecast for the Banks industry in Europe. Declared Dividend • Feb 29
First half dividend of NZ$0.047 announced Shareholders will receive a dividend of NZ$0.047. Ex-date: 5th March 2024 Payment date: 20th March 2024 Dividend yield will be 12%, which is higher than the industry average of 4.8%. Sustainability & Growth Dividend is not adequately covered by earnings (96% earnings payout ratio). However, the dividend is expected to be covered in 3 years' time (72% forecast payout ratio). The dividend has increased by an average of 9.1% 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 6.7% to bring the payout ratio under control. EPS is expected to grow by 39% over the next 3 years, which is sufficient to bring the dividend into a sustainable range. Announcement • Jan 30
Heartland Group Holdings Limited to Report First Half, 2024 Results on Feb 27, 2024 Heartland Group Holdings Limited announced that they will report first half, 2024 results on Feb 27, 2024 Announcement • Aug 30
Heartland Group Holdings Limited Announces Dividend for the Six Months Ended June 30, 2023, Payable Om September 202, 2023 Heartland Group Holdings Limited announced dividend of NZD 0.07058824 per share for the six months ended June 30, 2023. Record date is September 6, 2023, Ex date is September 5, 2023 and Payment date is September 202, 2023. Announcement • Aug 21
Heartland Group Holdings Limited Confirms Earnings Guidance for the Fiscal Year 2023 Heartland Group Holdings Limited confirmed earnings guidance for the fiscal year 2023. Heartland confirmed there is no change to its guidance for NPAT for FY2023, and expects this to be within the range of $109 million to $114 million, excluding any impacts of fair value changes on equity investments held and the impact of the de-designation of derivatives. Announcement • Jan 25
Heartland Group Holdings Limited, Annual General Meeting, Nov 09, 2023 Heartland Group Holdings Limited, Annual General Meeting, Nov 09, 2023. Reported Earnings • Aug 23
Full year 2022 earnings released: EPS: NZ$0.16 (vs NZ$0.15 in FY 2021) Full year 2022 results: EPS: NZ$0.16 (up from NZ$0.15 in FY 2021). Revenue: NZ$253.8m (up 7.4% from FY 2021). Net income: NZ$95.1m (up 9.3% from FY 2021). Profit margin: 38% (in line with FY 2021). Over the next year, revenue is forecast to grow 9.9%, compared to a 16% growth forecast for the Banks industry in Germany. Recent Insider Transactions • Apr 02
Insider recently sold €58k worth of stock On the 24th of March, Laura Byrne sold around 40k shares on-market at roughly €1.45 per share. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of €237k more than they bought in the last 12 months. Reported Earnings • Feb 24
First half 2022 earnings: EPS in line with analyst expectations despite revenue beat First half 2022 results: EPS: NZ$0.081 (up from NZ$0.076 in 1H 2021). Revenue: NZ$122.2m (up 1.2% from 1H 2021). Net income: NZ$47.5m (up 7.8% from 1H 2021). Profit margin: 39% (up from 37% in 1H 2021). The increase in margin was primarily driven by lower expenses. Revenue exceeded analyst estimates by 2.5%. Over the next year, revenue is forecast to grow 15%, compared to a 12% growth forecast for the industry in Germany. Reported Earnings • Aug 24
Full year 2021 earnings released: EPS NZ$0.15 (vs NZ$0.13 in FY 2020) The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2021 results: Revenue: NZ$236.2m (up 15% from FY 2020). Net income: NZ$87.0m (up 21% from FY 2020). Profit margin: 37% (up from 35% in FY 2020). The increase in margin was driven by higher revenue. Recent Insider Transactions • Jun 09
Group Chief of Staff & Senior Manager recently sold €134k worth of stock On the 31st of May, Laura Byrne sold around 110k shares on-market at roughly €1.22 per share. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of €86k more than they bought in the last 12 months. 
