Key Highlights

  • Macquarie Bank (ASX:MBLPD) is scheduled to trade ex-distribution on 20 August 2026, with a distribution of $1.5832 per security, according to current ASX market data.
  • The distribution carries 35% franking, with a gross distribution amount of $1.8207, and is scheduled for payment on 7 September 2026.
  • MBLPD is Macquarie Bank Capital Notes 3 (BCN3), an unsecured, subordinated and non-cumulative security listed on the ASX, rather than ordinary Macquarie Group shares.

Macquarie Bank (ASX:MBLPD) is among the ASX-listed income securities approaching an ex-dividend date this week, with Macquarie Bank Capital Notes 3 scheduled to trade ex-distribution on 20 August 2026. The distribution is listed at $1.5832 per security, carries 35% franking and is scheduled to be paid on 7 September 2026.

MBLPD Distribution Details

The upcoming MBLPD distribution is classified as an interim distribution. The cash amount is $1.5832 per security, while the gross amount after the stated franking benefit is $1.8207. The payment date is 7 September 2026.

The preceding distribution, which went ex-dividend on 21 May 2026, was $1.5293 per security and also carried 35% franking. The increase to $1.5832 represents a rise of $0.0539 per security, or approximately 3.5%, between the two listed distributions.

The distribution history also shows that the 19 February 2026 payment was $1.4289 per security, followed by $1.5293 in May and $1.5832 in August. This represents an increase across the three 2026 distributions listed to date.

What MBLPD Represents

MBLPD is the ASX Code for Macquarie Bank Capital Notes 3, issued by Macquarie Bank Limited. Macquarie states that BCN3 are unsecured, subordinated, non-cumulative and mandatorily convertible securities. They were listed on the ASX on 27 August 2021, with the scheduled mandatory exchange date set for 8 September 2031.

The securities have a $100 Face Value and carry a floating distribution structure linked to three-month BBSW plus a 290-basis-point margin, adjusted for franking. Macquarie's regulatory disclosure describes the distribution as fully discretionary and non-cumulative.

These characteristics distinguish MBLPD from Macquarie Group Limited's ordinary shares, which trade under ASX code MQG. Macquarie Bank Limited is the primary external funding vehicle for the Bank Group, while Macquarie Group Limited provides funding predominantly to the Non-Bank Group.

Latest Macquarie Group Update

Macquarie Group's 23 July 2026 first-quarter update reported different performance trends across its operating divisions. Macquarie Asset Management's net profit contribution was down on the prior corresponding period, with the company citing the divestment of its North American and European public investments Business in the second half of FY26.

Banking and Financial Services recorded higher net profit contribution, supported by growth in its Loan portfolio and deposits, although lower margins partly offset the increase. Commodities and Global Markets reported a substantially higher contribution, while Macquarie Capital also recorded higher contribution from investment-related and brokerage income, partly offset by lower advisory fees.

At 30 June 2026, Banking and Financial Services deposits stood at $223.3 billion, up 4% from 31 March. The home loan portfolio rose 6% to $191.5 billion, funds on platform increased 5% to $163.3 billion and the business banking loan portfolio increased 3% to $18.7 billion.

Capital and Liquidity Position

Macquarie Group reported a Bank Group APRA Basel III Common Equity Tier 1 ratio of 13.8% at 30 June 2026, up from 12.8% at 31 March. The reported liquidity coverage ratio was 192%, while the net stable funding ratio was 113%.

For FY26, Macquarie Group reported profit of $4.8 billion, up 30% from the previous year, while the Board resolved to pay total dividends of $7.00 per Macquarie Group ordinary share for the year. These figures relate to Macquarie Group rather than directly representing the distribution terms of MBLPD.

Conclusion

With MBLPD scheduled to go ex-distribution on 20 August 2026, the security is receiving attention from ASX income-market participants ahead of its $1.5832 interim distribution and 7 September payment date. The latest distribution is higher than the $1.5293 paid in May, while the 35% franking level remains unchanged. At the same time, MBLPD's status as an unsecured, subordinated and non-cumulative capital note means its structure differs materially from an ordinary equity investment.