Finbar Group Limited (ASX: FRI), a leading apartment development company in Western Australia, has announced the resumption of regular dividend payments following a strong financial year. The company, which specialises in high-quality residential and mixed-use projects, declared a fully franked final dividend of 2 cents per share for FY25, payable on August 6th. This decision reflects Finbar’s robust financial position and commitment to delivering shareholder value. The company finished FY25 with $36 million cash on hand.
The dividend declaration aligns with previous regular dividend payments made by Finbar around 2021/22. The company’s ability to reinstate dividends is underpinned by a strong balance sheet, which supports its development pipeline and strategic objectives. Finbar’s future plans at pre-development stage total $261M. The sale of non-core subsidiaries, Finbar to Rent and Finbar Sales, was completed on June 30th for $2.55 million, further solidifying the focus on its core business.
Finbar boasts a five-year development pipeline exceeding $1 billion in estimated end value. This includes $390 million in projects currently under construction and $363 million in projects with Development Application (DA) approval pending development and release. The WA market remains robust, with Finbar achieving average monthly sales of $11.8 million of completed stock throughout FY25. Upcoming project launches include the Riverbank project in Rivervale and Palmyra Stage Two, planned for the first half of FY26, with a total potential end value of $202 million.
CEO Ronald Chan stated that the dividend declaration acknowledges the importance of shareholder returns and that the company is pleased to be in a financial position to resume regular payments. He also highlighted Finbar’s strong balance sheet, positive project sales, and the unique advantage of its long-term relationship with builder Hanssen, providing cost certainty and confirmed delivery capacity. Finbar’s audited financial report for FY25 will be announced the week beginning August 18th.
