Semi-Annual Dividend Declared
HMC Capital declares AUD0.06 semi-annual dividend alongside FY26 results and growth strategy.
Anonymous
Key Points
1
The dividend timetable specifies ex-dividend date September 1, 2026, with a record date September 2 and a payment date of October 7, 2026.
2
Net tangible assets per share declined to $2.86 from $3.61, and the FY26 results included a final dividend of 6 cents after an interim 6 cents, totaling 12 cents for the year.
3
The FY26 period featured portfolio reshaping activity, including acquiring Neoen’s Victorian portfolio and subsequently losing control of Illuma Energy, with HealthCo and DigiCo contributing negative results.
4
AUM by platform: real estate $9.0 billion, private credit $2.3 billion, energy $1.5 billion, and digital infrastructure $4.1 billion, with a major data-centre expansion funded via asset recycling.
5
The FY26 presentation notes an underlying EPS measure of 30.2 cents (pre-tax) described as cash-backed earnings, a metric introduced to reflect cash-backed earnings.
HMC Capital declared a semi-annual dividend of AUD 0.06 per share for the June 2026 period, with payments arriving in October. The company reported Kalkine that it delivered 40.4 cents in operating earnings per share and grew fee-generating assets under management to AUD 16.9 billion, signaling continued investor payouts despite a challenging year.
Behind the dividend lies a mixed picture. FY26 revenue fell 20% to AUD 188.2 million and the company posted a net loss of AUD 49.1 million, MarketScreener reported, driven by underperforming investments in HealthCo, DigiCo, and Illuma Energy. Still, management targets 16% underlying earnings growth in FY27 as it reshapes its portfolio and deploys capital across real estate, private credit, and digital infrastructure.
Dividend Timeline and Full-Year Payout
The semi-annual dividend of AUD 0.06 comes on top of an interim payment of 6 cents, bringing the full FY26 dividend to 12 cents per share. Kalkine confirmed the ex-dividend date is September 1, 2026, with a record date of September 2 and payment on October 7. The entire dividend is unfranked.
Strong AUM Growth Across Four Platforms
HMC Capital grew fee-generating AUM to AUD 16.9 billion across its business segments. Real estate led with AUD 9.0 billion, followed by digital infrastructure at AUD 4.1 billion, private credit at AUD 2.3 billion, and energy at AUD 1.5 billion. Kalkine noted the company funded a major data-centre expansion through asset recycling, boosting its scalable earnings engine.
Revenue Drop Fueled by Portfolio Losses
Recurring funds management revenue hit AUD 165.5 million, but total revenue sank 20% to AUD 188.2 million year-over-year. MarketScreener reported the company booked a net loss of AUD 49.1 million in FY26, driven by writedowns and losses tied to HealthCo, DigiCo, and the loss of control in Illuma Energy. Net tangible assets per share fell to AUD 2.86 from AUD 3.61.
Management Eyes 16% Earnings Growth Ahead
Despite FY26 headwinds, HMC Capital's leadership committed to a capital-light, four-vertical strategy focused on seeding, scaling, strengthening, and syndicating businesses. Kalkine reported management is targeting 16% underlying earnings growth in FY27 as it deploys capital and builds fee-based revenue streams. Analysts rate the stock a Buy with a price target near AUD 3.85.
Sentiment
Mostly PositiveNEGATIVENEUTRALPOSITIVE
Publishers
14
Articles
16
Reach
30
Topics
A
AnonymousAuthor
