Pengana International Equities Limited (ASX: PIA), an Australian Listed Investment Company investing its Australian capital into ethically screened businesses listed on global exchanges, has released its Appendix 4D and half-year report for the period ending 31 December 2025. The report indicates a substantial decrease in both income from ordinary activities and profit after tax, with income dropping by 76.5% to $9.655 million and profit declining by 82.9% to $4.611 million compared to the corresponding period in 2024. Basic and diluted earnings per share also fell by 82.9% to 1.79 cents per share.
The company has declared a second interim dividend of 1.40 cents per share, fully franked at 25%, payable on 16 March 2026. The ex-dividend date is set for 27 February 2026, with a record date of 2 March 2026. PIA’s Dividend Reinvestment Plan (DRP) remains active, allowing shareholders to reinvest their dividends into new shares issued at a price determined by the weighted average sale price of shares over the five trading days commencing on the record date, with no discount applied.
Net tangible assets per share experienced a slight decrease, with after-tax NTA falling from $1.37 to $1.36 and before-tax NTA decreasing from $1.42 to $1.41. The report also noted extraordinary expenses of $875,154 relating to external advisory, consulting and legal services for the strategic proposal considered at the Annual General Meeting in October 2025. The board suspended the on-market buy-back supporting new shares issued under the Distribution Reinvestment Plan pending completion of the strategic review and will consider whether the buy-back should be reimplemented following completion of the review.
Significant changes include the ongoing strategic review of the Company, with BJO consulting appointed to provide detailed analysis of proposals received. Frank Gooch announced his intention to retire from the Board of PIA effective 16 February 2026, with Brett Jollie appointed as the new Chair, subject to Gooch’s resignation. The full interim financial report is available for review and includes additional details on the company’s performance and financial position.
