Pengana International Equities (ASX: PIA) Offers 9.47% Yield With $0.125 Fully Franked Interim Dividend

Aditi Sarkar

21 July 2026 05:31 PM AEST

Pengana International Equities (ASX: PIA) Offers 9.47% Yield With $0.125 Fully Franked Interim Dividend

Image Source: Shutterstock

You are reading a free article with opinions that may differ from the recommendation given by Kalkine in its paid research reports. Become a Kalkine member today to get access to our research reports, in-depth technical and fundamental research. Learn more

Start Your Free Trial Now!

Key Highlights

Pengana International Equities Ltd (ASX: PIA) declared a $0.125 fully franked interim dividend.
The ex-dividend date is 31 July 2026, with payment scheduled for 19 August 2026.
The annualised yield is 9.47% based on the current share price of $1.32.
The fully franked dividend attaches a tax credit applicable to eligible Australian investors.

Pengana International Equities Ltd (ASX: PIA) has declared an interim dividend of $0.125 per share, fully franked at 100%, with an ex-dividend date of 31 July 2026 and a payment date of 19 August 2026. Based on the current trading price of $1.32, the dividend represents an annualised yield of 9.47%, making it one of the higher-yielding distributions in the Australian listed investment company sector. Shareholders holding PIA before the ex-date will be entitled to receive the dividend payment and the attached franking credits.

About the PIA Interim Dividend

The $0.125 interim dividend represents Pengana International Equities' mid-year distribution to shareholders. As a listed investment company investing in international equities, PIA's ability to attach full franking to its distributions reflects the company's Australian tax position and the accumulation of franking credits through Australian corporate tax payments. The 9.47% annualised yield at the current price is notable among income-focused LIC investors, and is partially attributable to the share price trading at a level that may reflect a discount to the company's net tangible asset value.

Company Overview

Pengana International Equities is a listed investment company that provides Australian investors with exposure to a diversified portfolio of global equities. The company is managed by Pengana Capital Group and invests across international markets, aiming to deliver long-term capital growth and income. PIA is assessed by investors on the basis of its international portfolio performance relative to global benchmarks, its discount or premium to net tangible asset value, and the yield and franking provided by its distributions. The ability to attach full Australian franking to international investment income is a feature that has attracted income-focused investors.

Dividend and Yield Focus

Pengana International Equities' 9.47% annualised yield at the current price stands out among listed investment vehicles and reflects both the level of the cash distribution and the share price at which PIA is trading. LICs investing internationally can generate Australian franking credits through the corporate tax paid at the LIC level on their Australian-sourced income and capital gains. Investors comparing PIA with domestic equity LICs or global ETFs often focus on the total return from dividends plus franking, the management approach and the track record of portfolio performance relative to international benchmarks.

What Investors May Watch Next

Ex-dividend date: 31 July 2026 — investors must hold PIA shares before this date to receive the dividend
Payment date: 19 August 2026
Net tangible asset value and portfolio performance updates
Discount or premium to NTA relative to peers
Future ASX announcements

Risks

Listed investment companies investing internationally face risks including currency movements, global equity market volatility, changes in portfolio valuations, and the possibility of distributing capital rather than income if insufficient income is generated. The high annualised yield partly reflects the share price level, which may trade at a discount to NTA. Franking credit availability depends on Australian tax paid by the LIC, and the value of franking credits varies with each investor's tax circumstances.

International equity LICs have attracted investors seeking global exposure within a structure that can provide Australian franking credits, an advantage over most international ETFs and managed funds for eligible Australian investors. The high yield visible at PIA's current price level may reflect a combination of a meaningful cash distribution and a share price that sits below the company's net tangible asset value per share, a metric investors typically monitor closely. Management performance and fee levels are also considered by investors assessing international LICs relative to passive alternatives.

FAQs

Q: What is the Pengana International Equities (PIA) dividend amount?

A: $0.125 per share, declared as a fully franked interim dividend.

Q: When is the PIA ex-dividend date?

A: 31 July 2026. Investors must hold PIA shares before this date to be entitled to the payment.

Q: When will the PIA dividend be paid?

A: 19 August 2026.

Q: What yield does the PIA dividend represent?

A: An annualised yield of 9.47% based on the current share price of $1.32.

Download Free Report – Explore 3 Stock Ideas & Industry Insights

Unlock 3 stock ideas and key industry insights in our free report. This information is general in nature and does not consider your personal objectives, financial situation, or needs. It is not financial advice.

All investments involve risk—consider independent advice before making any investment decisions.

View 3 Research Reports

Disclaimer:

This article (“Article”) has been prepared by Kalkine Pty Limited (ABN 34 154 808 312) (Australian financial services licence number 425376) (“Kalkine”) and its related bodies corporate who are authorised to provide general financial product advice. Kalkine.com.au and its associated pages are published by Kalkine.

Any information/advice provided in this article is general in nature and does not take into account your objectives, financial situation or needs. You should therefore consider whether the information is appropriate for your objectives, financial situation and needs before acting upon it.

There may be a Product Disclosure Statement, Information Memorandum or other offer document (“Offer Document”) for the securities or other financial products referred to in Kalkine articles. You should obtain a copy of the Offer Document and consider it before making any decision about whether to acquire the security or financial product.

Kalkine strongly recommends that you seek advice from a financial adviser, stockbroker or other professional (including taxation and legal advice) before acting on any advice/information in this Article or on the Kalkine website. Not all investments are appropriate for all people.

The information in this Article and on Kalkine website has been prepared from a wide variety of sources, which Kalkine, to the best of its knowledge and belief, considers accurate. Kalkine has made every effort to ensure the reliability of the information contained in its articles (including this Article), newsletters and websites. All information represents our views at the date of publication and may change without notice.

The information in this Article does not constitute an offer to sell securities or other financial products or a solicitation of an offer to buy securities or other financial products.

Kalkine does not issue, sell or deal in any financial products.

This Article may contain information on past performance of particular investments. Please note past performance is neither an indicator nor a guarantee of future performance.

To the extent permitted by law, and excluding any dishonesty or gross negligence by Kalkine, Kalkine disclaims and excludes all liability for any direct, indirect, implied, punitive, special, incidental or other consequential loss or damage arising from the use of or reliance on this Article, the Kalkine website and any information published on the Kalkine website without any warranties or representations by Kalkine to you. To the extent the law prohibits or limits this exclusion, Kalkine limits its liability to the resupply of services.

Please also read our Terms & Conditions and Financial Services Guide for further information.

Employees and/or associates of Kalkine and its related entities may hold interests in the securities or other financial products covered in this Article or on the Kalkine website. Any such employees and associates are required to comply with certain safeguards, procedures and disclosures as required by law.

Some of the images/music that may be used in the Article are copyright to their respective owner(s). Kalkine does not claim ownership of any of the pictures displayed/music used in the Article unless stated otherwise. The images/music that may be used in the Article are taken from various sources on the internet, including paid subscriptions or are believed to be in public domain. We have used reasonable efforts to accredit the source wherever it was indicated or was found to be necessary.

Kalkine Media Pty Ltd, an affiliate of Kalkine Pty Ltd, may have received, or be entitled to receive, financial consideration in connection with providing information about certain entity(s) covered on its website.