Resimac Group Ltd (ASX: RMC), a prominent non-bank lending institution, has revealed its financial performance for the year ending June 30, 2023. The company reported a normalized net profit after tax (NPAT) of AU$73.7 million, excluding the impact of fair value gains/losses on derivatives. In light of these results, the Board declared a fully franked final dividend of 4.0 cents per ordinary share, contributing to a total annual dividend of 8.0 cents. This annual dividend equates to a payout ratio of 43.5% on a normalized basis, and a dividend yield of 8.74% based on the share price at the end of June 2023.
Despite challenges posed by strong competition and decreased credit demand due to higher interest rates, CEO Scott McWilliam expressed contentment with the profit outcome. He outlined the company's commitment to enhancing operational efficiency and customer experiences through technological investments. With a cautiously optimistic outlook for FY24, McWilliam expects a more sustainable home loan pricing environment, driven by shifts in industry dynamics and an increased focus on asset finance growth.
Customer Notice:
Nextgen Global Services Pty Ltd trading as Kapitales Research (ABN 89 652 632 561) is a Corporate Authorised Representative (CAR No. 1293674) of Enva Australia Pty Ltd (AFSL 424494). The information contained in this website is general information only. Any advice is general advice only. No consideration has been given or will be given to the individual investment objectives, financial situation or needs of any particular person. The decision to invest or trade and the method selected is a personal decision and involves an inherent level of risk, and you must undertake your own investigations and obtain your own advice regarding the suitability of this product for your circumstances. Please be aware that all trading activity is subject to both profit & loss and may not be suitable for you. The past performance of this product is not and should not be taken as an indication of future performance.
Kapitales Research, Level 13, Suite 1A, 465 Victoria Ave, Chatswood, NSW 2067, Australia | 1800 005 780 | info@kapitales.com
Nov 21, 2024
Nov 21, 2024
Nov 21, 2024
Nov 21, 2024
Nov 21, 2024
Nov 21, 2024
Nov 21, 2024
Nov 21, 2024
Nov 20, 2024
Nov 20, 2024
Nextgen Global Services Pty Ltd trading as Kapitales Research (ABN 89 652 632 561) is a Corporate Authorised Representative (CAR No. 1293674) of Enva Australia Pty Ltd (AFSL 424494). The information contained in this website is general information only. Any advice is general advice only. No consideration has been given or will be given to the individual investment objectives, financial situation or needs of any particular person. The decision to invest or trade and the method selected is a personal decision and involves an inherent level of risk, and you must undertake your own investigations and obtain your own advice regarding the suitability of this product for your circumstances. Please be aware that all trading activity is subject to both profit & loss and may not be suitable for you. The past performance of this product is not and should not be taken as an indication of future performance.
