Amotiv Limited (ASX:AOV): How Do Fully Franked Dividends Compare With the Revised Outlook?

Aditi Sarkar

28 October 2026 09:26 PM AEDT

Amotiv Limited (ASX:AOV): How Do Fully Franked Dividends Compare With the Revised Outlook?

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Highlights

Amotiv declared a fully franked FY26 final dividend of 23.0 cents per share, paid on 15 September 2026.
The FY26 total dividend reached 43.0 cents per share, compared with 40.5 cents in FY25.
Operating cash flow rose to A$155.2 million in FY26, while net debt declined to A$376.5 million.
On 27 October, the company revised FY27 expectations after first-quarter like-for-like revenue declined 5%.
The group also announced a further on-market buyback of up to 5% of issued shares.

Amotiv Limited (ASX:AOV) manufactures and distributes automotive aftermarket products, including four-wheel-drive accessories, lighting, power systems and replacement parts. At A$5.63 on 28 October 2026, the company remained a dividend-paying ASX automotive business, although its latest trading update introduced a more cautious earnings outlook. Amotiv’s fully franked FY26 distributions provide a record of shareholder cash returns; the October update is important context for evaluating future dividend capacity.

Fully Franked FY26 Distributions

Amotiv (ASX:AOV) declared a fully franked final dividend of 23.0 cents per share for FY26, with shares trading ex-dividend on 25 August, a record date of 26 August and payment on 15 September 2026. The final distribution followed a fully franked interim dividend of 20.0 cents per share, bringing the FY26 total to 43.0 cents per share. That was a 6.2% increase from the 40.5 cents distributed for FY25.

At an A$5.63 share price, 43.0 cents represents an arithmetic trailing cash dividend yield of approximately 7.6%, before any individual tax effects. Franking credits may have different consequences depending on shareholder circumstances.

Earnings and Cash Flow Behind the Dividend

For the year ended 30 June 2026, Amotiv (ASX:AOV) recorded revenue of A$1,023.9 million, an increase of 2.7% from A$997.4 million. Underlying EBITA increased 1.6% to A$195.1 million, while statutory net profit after tax reached A$75.1 million compared with a A$106.3 million loss in FY25, which included an impairment effect.

Operating cash flow rose 3.7% to A$155.2 million, with reported cash conversion of 93.1%. Net debt declined by A$6.8 million to A$376.5 million, and net debt to adjusted EBITDA eased to 1.85 times. Amotiv (ASX:AOV) reported A$74.8 million of FY26 cash returned to shareholders through dividends and its buyback, demonstrating that distributions were part of a broader capital-management programme.

October Trading Update Changes the Earnings Context

On 27 October 2026, Amotiv (ASX:AOV) reported first-quarter FY27 like-for-like group revenue 5% below the prior corresponding period. Subdued new-vehicle and pickup sales and flood-related production disruption in Thailand affected the four-wheel-drive business. Lighting, Power and Electrical revenue was broadly flat, while Powertrain and Undercar grew marginally. The group reported improved gross margins but also one-off and inflationary operating-cost pressures.

Management replaced its August expectation of modest FY27 revenue and underlying EBITA growth. Excluding VAFI consolidation, both measures are now expected to be up to 5% below FY26 continuing operations. Including VAFI, they are expected to be broadly in line.

Capital Returns and Relevant Risks

Alongside the revised outlook, Amotiv (ASX:AOV) announced an on-market share buyback of up to 5% of shares on issue. Management targeted a further A$10 million of net annualised FY27 benefits from Amotiv Unified, mostly in the second half.

Future dividend decisions may be affected by softer vehicle demand, operating costs, supply interruptions, debt requirements and earnings performance. No FY27 dividend amount was confirmed in the October trading update.

Key Insights

As of 28 October 2026, Amotiv (ASX:AOV) had delivered 43.0 cents per share of fully franked FY26 dividends, supported by positive operating cash flow and lower leverage. Its subsequent first-quarter trading weakness and revised FY27 guidance change the financial context, without altering the historical dividend record. The timing and level of future distributions remain subject to board decisions and subsequent performance.

FAQs

Q: How much was Amotiv’s FY26 final dividend?

A: The fully franked final dividend was 23.0 cents per share, paid on 15 September 2026.

Q: What was the total FY26 dividend?

A: Amotiv paid 43.0 cents per share for FY26, including the 20.0-cent interim dividend.

Q: What did Amotiv change in October 2026?

A: It revised FY27 revenue and underlying EBITA expectations following weaker first-quarter trading.

Q: Was a new FY27 dividend announced on 27 October?

A: No FY27 dividend amount was specified in the trading update.

Q: What does fully franked mean for the dividends?

A: The company reported the distributions as carrying 100% franking credits; individual tax treatment can vary.

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