Nine Entertainment (ASX:NEC) Reports FY26 Profit Growth and Updates Dividend Outlook

Aditi Sarkar

26 October 2026 03:01 PM AEDT

Nine Entertainment (ASX:NEC) Reports FY26 Profit Growth and Updates Dividend Outlook

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Highlights

Nine Entertainment (ASX:NEC) declared an unfranked final dividend of AUD 0.03 per share for FY26.
FY26 ordinary dividends totalled AUD 0.075 per share, while the indicated dividend yield was 11.03% with 0% franking.
Continuing-business FY26 revenue rose 3% YoY to AUD 2.189bn and EBITDA increased 17% YoY to AUD 378.8mn.
Nine completed portfolio transactions including the acquisition of QMS and reported subscriber revenue growth.

Nine Entertainment Co. Holdings Limited (ASX:NEC) operates Australian television, streaming, publishing and outdoor advertising businesses. Its FY26 results, released in August 2026, reflected changes to the group’s asset mix and growth in several earnings lines. As at 26 October 2026, Nine Entertainment (ASX:NEC) carried an indicated dividend yield of 11.03% with 0% franking. The company declared an unfranked final ordinary dividend of AUD 0.03 per share, taking FY26 ordinary dividends to AUD 0.075 per share, alongside a revised portfolio and continuing investment in digital platforms.

Company Business

Nine Entertainment (ASX:NEC) combines broadcast television with the 9Now video-on-demand platform, subscription streaming service Stan, digital and print publishing, and outdoor advertising. Its publishing assets include Australian news mastheads and associated digital subscriptions. Advertising revenue is generated across television, digital video, publishing and outdoor formats, while subscriptions contribute recurring revenue through Stan and publishing products.

The FY26 portfolio changed following the disposal of Domain and a number of radio, regional television and digital assets, and the acquisition of QMS. The QMS business added outdoor advertising operations to the continuing group from the end of March 2026. These transactions changed the comparative presentation of revenue, profit and capital allocation measures.

Recent Developments

In August 2026, Nine Entertainment (ASX:NEC) reported that subscription revenue had increased 12% across its publishing mastheads and Stan. The company also reported the completion of its QMS acquisition and additional agreements for licensing publishing content for artificial intelligence applications. Its FY26 restructuring programme delivered around AUD 70mn of ongoing cost efficiencies, with management expecting to exceed its earlier three-year efficiency target of AUD 160mn by the end of FY27.

The company also continued work on a consolidated advertising sales platform, consumer technology and its Future News initiative. Management described the outdoor business, streaming services and digital publishing as central to the group’s next operating phase. Execution across these activities will be relevant to revenue mix, operating costs and cash generation.

Financial Performance and Dividend Position

For FY26, continuing-business revenue at Nine Entertainment (ASX:NEC) increased 3% YoY to AUD 2.189bn from AUD 2.126bn. EBITDA before specific items rose 17% YoY to AUD 378.8mn from AUD 324.4mn. Net profit after tax on that continuing-business measure increased 7% YoY to AUD 142.4mn, while NPATA rose 11% YoY to AUD 147.2mn. The group reported year-end leverage of 1.7 times.

Stan generated FY26 revenue of AUD 569.0mn, up 16% YoY, and EBITDA of AUD 80.6mn, up 34% YoY. Publishing recorded AUD 517.5mn in revenue, broadly unchanged, and AUD 149.9mn in EBITDA, down 3% YoY. Outdoor contributed AUD 54.5mn to EBITDA for its first three months within the group. Total Television advertising activity remained exposed to a weaker advertising market, placing pressure on the broadcast component.

Nine Entertainment (ASX:NEC) reported FY26 ordinary dividends of AUD 0.075 per share, including an unfranked final dividend of AUD 0.03. The group stated that this represented a payout ratio of about 80% of adjusted earnings per share. Following the effects of asset sales and related tax positions on its franking account, it expected FY27 and FY28 ordinary dividends to be unfranked. Its stated future distribution policy was 60%–80% of NPATA before specific items.

Risks to Consider

Nine Entertainment (ASX:NEC) faces advertising demand fluctuations, content and sporting-rights costs, subscription competition and execution risks associated with portfolio integration. The acquisition of QMS increases the importance of outdoor advertising conditions. Changes to operating segments can also complicate year-on-year comparisons, while leverage and tax-related cash requirements may affect financial flexibility. Broadcasting and publishing remain exposed to structural changes in audience behaviour and advertising allocation.

What to Watch Next

The company’s annual general meeting is scheduled for November 2026, followed by its H1 FY27 results in February 2027. Items to monitor include QMS integration, Stan subscriptions and sports costs, digital publishing performance, advertising demand and delivery of the group’s cost-efficiency programme. Nine has said streaming, outdoor and digital publishing are expected to account for more than 60% of revenue and approximately 70% of EBITDA in FY27 on its stated portfolio basis.

Key Insights

Nine Entertainment (ASX:NEC) reported higher FY26 continuing-business revenue, EBITDA and adjusted profit while completing substantial portfolio changes. Its FY26 ordinary dividend totalled AUD 0.075 per share, with the final ordinary dividend unfranked. FY27 developments will centre on earnings contributions from streaming, publishing and outdoor operations, operating efficiencies and the integration of acquired assets.

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