NAOS Ex-50 Opportunities Company Reports FY26 After-Tax Loss of $3.09 Million at 2026 AGM

Manish Choudhary

12 November 2026 10:15 AM AEDT

NAOS Ex-50 Opportunities Company Reports FY26 After-Tax Loss of $3.09 Million at 2026 AGM

Image Source: Krish Capital Pty Ltd

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NAOS Ex-50 Opportunities Company Limited (ASX:NAC) disclosed an after-tax loss of $3.09 million for the financial year ended 30 June 2026, compared with an after-tax profit of $7.55 million in FY25, according to the Chair's Address delivered at the company's Annual General Meeting on 12 November 2026.

Key Points

After-tax loss of $3.09 million for FY26, compared with an after-tax profit of $7.55 million in FY25
Total FY26 dividend of 6.30 cents per share, representing a 5.0% increase on the FY25 full year dividend of 6.00 cents per share
NAC Investment Portfolio returned -5.26% for FY26; pre-tax NTA per share decreased from 67.26 cents to 51.94 cents
Total shareholder return for the 12-month period was +18.70%, or +21.62% including the value of franking credits
980,082 shares acquired and cancelled under on-market buy-back at a total cost of $539,422

FY26 Financial Results and Dividend Details

For the financial year ended 30 June 2026, NAOS Ex-50 Opportunities Company declared a final quarterly dividend of 1.60 cents per share, franked to 50%, bringing the total FY26 dividend to 6.30 cents per share. The company stated this represents a 5.0% increase on the FY25 full year dividend of 6.00 cents per share and marks the twelfth consecutive financial year in which the annual dividend rate has been maintained or increased. Based on the closing share price of $0.505 at 30 June 2026, the dividend represents a yield of 12.48%, or 15.58% once the value of attached franking credits is included. Since inception, the company has declared 63.45 cents per share in dividends, together with 24.85 cents per share in franking credits, totalling 88.30 cents per share.

Portfolio Performance and Net Tangible Asset Backing

The NAC Investment Portfolio returned -5.26% for the financial year ended 30 June 2026, compared with the benchmark S&P/ASX 300 Industrials Accumulation Index, which returned -4.49%. Pre-tax net tangible asset backing per share decreased from 67.26 cents to 51.94 cents over the course of the year. The profit reserve balance at year-end was 52.2 cents per share. Of the FY26 dividends, 3.10 cents per share was fully franked, with the balance franked to 50%. Total shareholder return for the 12-month period was +18.70%, or +21.62% when including the value of franking credits, driven by dividends paid and a narrowing of the share price discount to pre-tax NTA from 29.85% at 30 June 2025 to 2.77% at 30 June 2026.

Capital Management Activities During FY26

During FY26, the company conducted several capital management activities. The quarterly dividend was increased from 1.50 to 1.60 cents per share from the Q2 FY26 dividend. Under the on-market share buy-back program, 980,082 shares were acquired and cancelled at a total cost of $539,422. All dividend reinvestment plan entitlements were satisfied through on-market purchases. The filing also states that 175,000 NACGA convertible notes remain on issue, with a September 2027 maturity. Board shareholdings increased by 312,613 shares over the financial year to a cumulative total of 9,607,235 shares, or approximately 21% of the company.

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