At a glance

  • Premier Investments paid 95c per share in fully franked dividends with ex-dates in the 12 months to 24 September 2026.
  • At $11.63, that equals a trailing Yield of 8.17%, or 11.67% grossed up for franking credits.
  • FY26 EBIT guidance was cut on 12 August 2026.
  • On 24 September 2026, Premier released its FY26 results with a 36c fully franked final dividend.
  • That takes the FY26 total to 81c, equal to 6.96% at $11.63, a more conservative guide than the trailing figure.

Premier Investments (ASX:PMV) is a retail group best known for Peter Alexander sleepwear and Smiggle stationery, alongside a portfolio of Investment holdings. It is a member of the S&P/ASX 200, though not the ASX 100, and it pays fully franked dividends.

The reason its yield now looks so high is less about generosity and more about the share price

The dividends that feed the trailing yield, however, have not fallen anywhere near as sharply. The FY25 final and the 1H26 interim were both sizeable, fully franked payouts. Divide them by a much lower share price and the trailing yield jumps to 8.17%.

A key turning point was 12 August 2026, when Premier cut its FY26 EBIT guidance. EBIT, or Earnings before interest and tax, is a common measure of operating profit. A guidance downgrade tells the market that profits will be weaker than the company previously expected, and weaker profits usually mean less room for dividends.

How much did Premier pay in the last 12 months?

Both dividends in the window were fully franked:

FY25 final dividend: 50c per share, ex-dividend 11 December 2025, paid 23 January 2026.

1H26 interim dividend: 45c per share, ex-dividend 3 August 2026, paid 20 August 2026.

Together, that is 95c per share. Divide 95c by the $11.63 share price (1163c) and you get 95 ÷ 1163 = 8.17%.

There were no special dividends in the window, so the 8.17% reflects ordinary payouts. But it is worth noticing the direction of travel. The 45c interim was smaller than the 50c final before it. That trend matters for what comes next.

Both of these dividends have already been paid. Anyone buying at $11.63 today is not entitled to either of them.

How does today's 36c final change the maths?

On 24 September 2026, Premier released its FY26 results and declared a final dividend of 36c, fully franked. That is a noticeable step down from the 50c FY25 final it replaces.

Add the 36c final to the 45c interim and Premier's FY26 dividends total 81c. At the same $11.63 share price, that equals a yield of 6.96%.

In other words, the 8.17% describes what Premier paid over the past 12 months, while 6.96% describes what the Business declared for its latest financial year. For an investor trying to judge the income on offer today, the lower figure is arguably the more realistic starting point.

There is also a timing detail to watch. The ex-date for the 36c final has not yet been confirmed. Until it is, investors cannot be certain when they would need to hold the shares to receive it.

What could change the yield from here?

Dividends follow profits. The EBIT guidance cut on 12 August 2026 and the smaller final suggest profits are under pressure. If trading stays tough, future dividends could be trimmed again.

Retail is cyclical. Brands like Peter Alexander and Smiggle depend on discretionary spending. When households tighten their belts, sales and margins can suffer quickly.

The share price. A recovery would lower the yield on the same dividends. A further fall would lift it, but that would reflect weaker confidence rather than a better deal.

Trailing is not forward. Neither 8.17% nor 6.96% is a forecast. Both describe dividends already declared.