Listed law firms are rare on the ASX, and Shine Justice (ASX:SHJ) is the most established of them. The Brisbane-based group has been quoted since May 2013, runs a plaintiff litigation Business across four countries, and pays a franked dividend. With a final dividend about to go ex and an Annual General Meeting weeks away, the next month carries several dated events for shareholders.

Company Overview

Shine Justice is a Holding Company for a group of legal practices rather than a single firm. Shine Lawyers is the principal brand, joined by Sciaccas Lawyers, Stephen Browne Personal Injury Lawyers, Bradley Bayly Lawyers and Carr & Co Divorce and Family Lawyers. The group reports about 896 staff across 51 offices in Australia, New Zealand, Thailand and the United States, and says it won or settled client matters producing damages of more than A$1 billion in FY2026. Revenue is concentrated in personal injury litigation, with a smaller class actions practice.

The most recent ASX filings are governance rather than operational. Between 31 August and 1 September 2026 Shine Justice lodged Appendix 3Y notices covering the vesting of FY26 non-executive director rights for Graham Bradley AO, Teresa Dyson, Rod Douglas and David Bayes, with a corrected notice for David Bayes issued on 1 September 2026. Of more direct relevance to shareholders, a final dividend of 2.5 cents per share carries an ex-date of 28 September 2026 and a payment date of 14 October 2026, the same day as the annual general meeting.

Financial and Operational Position

Reported revenue was A$204.94 million in FY2025, to 30 June 2025, up from A$197.75 million in FY2024. Profitability moved the other way: Net Income fell to A$0.57 million in FY2025 from A$6.04 million a year earlier, with Operating Income of A$12.72 million against A$18.47 million. On a trailing twelve-month basis to 31 December 2025, revenue was A$213.34 million and net income A$10 million, indicating a recovery through the first half of FY2026.

Segment data shows personal injury contributing about A$166.31 million of revenue and class actions about A$38.11 million. Recent figures show Earnings Per Share of 5.7 cents, dividends per share of 5.0 cents and a Payout Ratio near 64 per cent, with dividends fully franked and Book Value per share of A$1.552. PricewaterhouseCoopers is the auditor.

What Investors May Watch Next

The 14 October 2026 annual general meeting is the clearest near-term checkpoint, alongside the dividend payment the same day. Beyond that, investors may be watching whether the earnings recovery visible in the trailing figures carried through the full FY2026 year, how the class actions book converts, and any commentary on the offshore offices in New Zealand, Thailand and the United States.

Risks

Plaintiff litigation earnings are lumpy: revenue recognition depends on case resolution timing, and disbursements tie up Working Capital for long periods. Class action outcomes are binary and can move a full-year result. The sector is also exposed to legislative change in personal injury and legal costs regimes across Australian states. Founder-linked shareholdings are significant, which concentrates influence, and at this Market Capitalisation trading Liquidity can be modest.

Key Takeaways

What could put Shine Justice on investors' radar this September is straightforward: a dated dividend, an annual meeting, and a FY2026 year in which the group says it delivered more than A$1 billion of client damages. Set against a lean FY2025 profit result, the question is whether the improvement visible in the trailing twelve-month numbers holds. The outlook may depend on case settlement timing as much as on underlying Demand for legal services.