NAOS Emerging Opportunities Company Chair Reports 18.72% Portfolio Return and 4.20 Cents Full-Year Dividend at 2026 AGM

Aakashdeep

12 November 2026 10:15 AM AEDT

NAOS Emerging Opportunities Company Chair Reports 18.72% Portfolio Return and 4.20 Cents Full-Year Dividend at 2026 AGM

Image Source: Krish Capital Pty Ltd

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NAOS Emerging Opportunities Company Limited (ASX:NCC) disclosed at its Annual General Meeting on 12 November 2026 that its NCC Investment Portfolio returned 18.72% for the financial year ended 30 June 2026, outperforming the S&P/ASX Small Ordinaries Accumulation Index return of 8.11% by 10.61%, while the company recorded an after-tax profit of $7.14 million.

Key Points

NCC Investment Portfolio returned 18.72% for FY26, against the benchmark return of 8.11%, representing outperformance of 10.61%
After-tax profit of $7.14 million for FY26, compared with $0.28 million in FY25
Full-year dividend of 4.20 cents per share, fully franked, up 5.0% on FY25's 4.00 cents per share and the first annual rate increase since FY21
Pre-tax net tangible asset backing per share increased from 40.47 cents to 46.94 cents over the year
Total shareholder return for the 12-month period was 59.18%, or 64.01% including franking credits

FY26 Financial Year Performance and Dividend

Chair Sarah Williams, addressing shareholders at the Beaumont Room, Sheraton Grand Sydney Hyde Park, stated the company declared a final dividend of 2.10 cents per share, fully franked, bringing the total FY26 dividend to 4.20 cents per share. This represents a 5.0% increase on the FY25 full-year dividend of 4.00 cents per share and is the first increase in the annual dividend rate since FY21. FY26 marks the fourteenth consecutive financial year in which the company has paid a dividend. Based on the FY26 dividend of 4.20 cents per share and the closing share price of $0.370 at 30 June 2026, the dividend represents a yield of 11.35%, or 15.14% inclusive of franking credits.

Net Tangible Assets and Total Shareholder Return

According to the filing, pre-tax net tangible asset backing per share increased from 40.47 cents to 46.94 cents during the financial year. Total shareholder return for the 12-month period was 59.18%, or 64.01% when franking credits are included. The share price discount to pre-tax NTA narrowed from 36.99% at 30 June 2025 to 21.18% at 30 June 2026. The profit reserve balance at year-end was 32.6 cents per share. Since inception, the company has declared 86.45 cents per share in dividends, together with 30.33 cents per share in franking credits, totalling 116.78 cents per share.

Capital Management Activities During FY26

The filing disclosed three principal capital management activities during the financial year. The half-yearly dividend was increased from 2.00 to 2.10 cents per share from the first-half FY26 interim dividend. Under an on-market buy-back, 1,705 NCCGA convertible notes were bought back at a discount to face value and cancelled, reducing notes on issue and annual interest costs. All dividend reinvestment plan entitlements were satisfied through on-market purchases, with no dilution to shareholder holdings. The filing also stated that Board shareholdings increased by 112,966 shares over the financial year to a cumulative 4,690,510 shares, representing approximately 6.4% of the company.

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