Key Highlights

  • The final dividend is $0.63 per share, unfranked, payable on 2 October 2026, and FY26 dividends total $1.22.
  • The total dividend is a 65% payout of underlying profit after tax of $217.0 million, up 6%.
  • Statutory NPAT was $88.9 million against a loss of $58.2 million.
  • The approximate yield is near 7.2%, unfranked, with a reinvestment plan available.

Perpetual Limited (ASX:PPT) is a diversified financial services group based in Sydney. It has three main businesses: Corporate Trust, which provides trustee and fiduciary services; Asset Management, which includes the Barrow Hanley and other investment managers; and Wealth Management, which it is selling.

In FY26 it reported operating revenue of $1,374.2 million and underlying profit after tax of $217.0 million. Corporate Trust has delivered growth across its three business lines, while Asset Management earnings improved with higher equity markets and cost discipline. Perpetual has also run a Simplification Program that has delivered more than $70 million of annualised cost savings, and it has used cash generation to reduce debt. Its dividends are unfranked.

The Dividend Picture

PPT has an approximate yield of about 7.2% at a price near $17.07, no franking and a reinvestment plan available. The board determined an unfranked final dividend of $0.63 per share, to be paid on 2 October 2026, and total FY26 dividends were $1.22 per share, a payout of 65% of UPAT for the year. Because the dividend is unfranked, the grossed-up yield equals the cash yield.

Understanding the Dividend Data for Perpetual

At a share price of approximately $17.07, the approximate yield is 7.2%. There is no franking, so the grossed-up yield is the same as the cash yield and no tax credits are attached to the payments. A distribution reinvestment plan is available, which allows holders to take additional securities in place of cash. As an illustration of the arithmetic only, a holding worth $10,000 at that price and yield would correspond to roughly $715 of cash distributions over a year before tax, calculated from the stated percentage. The release gives no numeric guidance for future dividends. Yields of this kind depend on the share price on the day and on which payments are counted, so they move as the share price changes and are not a forecast.

Results

Perpetual Limited (ASX:PPT) announced its FY26 results on 27 August 2026.

Operating revenue was $1,374.2 million, stable year on year, with growth in Corporate Trust offset by lower Asset Management and Wealth Management revenue. UPAT was $217.0 million, 6% higher, helped by Corporate Trust growth, improved Asset Management earnings, the Simplification Program and lower funding costs, partly offset by higher Barrow Hanley distributions linked to employee-owned units. NPAT was $88.9 million, against a loss of $58.2 million, reflecting higher underlying earnings, fewer significant items and tax credits ahead of the Wealth Management sale.

Cost Savings and Cash Generation

Perpetual's chief executive says Corporate Trust delivered consistent growth across all three of its business lines, and Asset Management improved earnings with higher equity markets and cost discipline. The Simplification Program has delivered more than $70 million of annualised cost savings, ahead of the FY26 aim and already within the FY27 target range. Together with higher cash generation, this led to meaningful debt reduction and more financial flexibility to consider capital management over time.

Reconciling Underlying and Statutory Profit

Operating revenue of $1,374.2 million was flat, total expenses fell 1% to $1,078.5 million, and underlying profit before tax rose 6% to $295.8 million, giving UPAT of $217.0 million after tax of $78.8 million. Significant items of $128.1 million, against $262.4 million, include transaction and simplification costs, amortisation of acquired intangibles and impairment losses, bringing statutory NPAT to $88.9 million. The dividend payout of 65% is set against UPAT, not statutory profit, and the final dividend is unfranked, so it carries no tax credits.

How the Payout Measure Works

The measure that matters for this dividend is underlying profit after tax (UPAT). Perpetual sets its payout against UPAT of $217.0 million and the 65% payout equals total dividends of $1.22 per share. UPAT excludes significant items such as simplification costs and impairments. Investors comparing the figure with a yield should remember that the yield is calculated on a price, while the payout compares the dividend with the company's own earnings measure, so the two answer different questions. A high payout can leave little retained cash, while a low payout can leave room for growth or debt reduction, and the right balance depends on the business.

Key Dates and Timing

The final dividend is paid on 2 October 2026, and the results were released on 27 August 2026. Dividend and distribution amounts can change from period to period, and the announcement is the source for amounts and dates. Anyone relying on a date should confirm it against the company's notice, because record dates and payment dates vary by security.