MyState Limited Reports 58% Rise in Full-Year Net Profit, Declares 12.5 Cent Final Dividend

Mukul

25 August 2026 09:15 AM AEST

MyState Limited Reports 58% Rise in Full-Year Net Profit, Declares 12.5 Cent Final Dividend

Image Source: Krish Capital Pty Ltd

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MyState Limited (ASX:MYS) has reported a statutory net profit after tax attributable to members of $56.19 million for the year ended 30 June 2026, a 58.0% increase on the prior year figure of $35.56 million, according to its Preliminary Final Report filed on 25 August 2026.

Key Points

Statutory NPAT rose 58.0% to $56.19 million for the year ended 30 June 2026, compared with $35.56 million in the prior year
Income from operations increased 37.1% to $255.95 million from $186.64 million in the prior corresponding period
Directors declared a fully franked final dividend of 12.5 cents per share, payable 22 September 2026 to shareholders on the register at 31 August 2026
Net tangible assets per share rose to 364 cents in 2026 from 354 cents in 2025
Full-year dividend of 24.50 cents per share reflects a payout ratio of 74.1% on a statutory NPAT basis

Full-Year Financial Performance

MyState disclosed income from operations of $255.95 million for the year ended 30 June 2026, compared with $186.64 million in the prior year, representing a 37.1% increase. Pre-provision operating profit of $85.8 million increased $26.2 million, or 43.9%, on the prior year. The filing states that income growth of $69.3 million was partly offset by an increase in operating expenses of $43.1 million, or 34.0%. Total expenses include integration costs of $6.5 million and merger-related fair value adjustments of negative $3.4 million. Underlying NPAT of $58.3 million was 41.2% higher than the prior year figure of $41.3 million.

Earnings Per Share, Return Metrics and Dividend Details

Underlying earnings per share for the year ended 30 June 2026 was 34.3 cents, an increase of 11.7% on the prior year figure of 30.7 cents. Statutory EPS increased 25.4% to 33.1 cents per share from 26.4 cents per share. Return on tangible equity was 9.7%, compared with 8.9% in the prior year. The group cost-to-income ratio was 66.5%, compared with 68.0% in the prior year, an improvement of 150 basis points. The directors declared a fully franked final dividend of 12.5 cents per share, bringing the full-year dividend to 24.50 cents per share, with a payout ratio of 74.1% within the company's stated target range of 60% to 80%.

Dividend Reinvestment Plan and Corporate Structure

The MyState Limited Dividend Reinvestment Plan is operational for the 2026 final dividend at a 1.5% discount to the Volume Weighted Average Price over the DRP pricing period from Wednesday 2 September 2026 to Tuesday 8 September 2026 inclusive. The last date for receipt of DRP elections is 1 September 2026. During the financial year, the company gained control of ConQuest 2025-2 Trust, a securitisation trust. The transition to a single banking licence on 1 December 2025, following the merger with Auswide Bank Ltd, has delivered operational, funding and capital benefits, according to the filing. Auswide's banking licence was subsequently revoked by APRA on 11 December 2025.

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