Djerriwarrh Investments Limited (DJW), a listed investment company focused on delivering enhanced fully franked income and long-term capital growth, has announced its results for the half-year ended 31 December 2025. The company reported a net operating result of $19.7 million, a 6.0% decrease from the $21.0 million recorded in the corresponding period of the previous year. Despite the dip in operating results, the board has declared an interim dividend of 7.25 cents per share, fully franked, maintaining the same level as the previous year. The dividend is payable on 23 February 2026, to shareholders registered as of 2 February 2026.
The company’s portfolio return for the six months to 31 December 2025, including franking, was 2.1%, underperforming the S&P/ASX 200 Accumulation Index return of 4.2% over the same period. Over the 12 months to 31 December 2025, Djerriwarrh’s portfolio return including franking was 5.5%, compared to the S&P/ASX 200 Accumulation Index return of 11.5%. According to the announcement, this underperformance was attributed to being underweight in gold and critical minerals companies, as well as declines in the share prices of EQT Holdings and CSL.
Total revenue for the half-year was $17.4 million, down 7.5% from $18.8 million in the previous corresponding period. This figure includes dividends and distributions received from the company’s investments, but excludes trading and option income and capital gains on investments. The company highlighted that based on the interim dividend declared and the final dividend paid, the dividend yield including franking on the net asset backing is 6.6%, representing an enhanced yield of 2.6 percentage points higher than that available from the S&P/ASX 200 Index when franking is included.
Djerriwarrh Investments offers both a Dividend Reinvestment Plan (DRP) and a Dividend Substitution Share Plan (DSSP). The price for shares issued under these plans will be set at a nil discount to the Volume Weighted Average Price of the company’s shares. Notices of participation in the DRP and DSSP must be received by the share registry by 5 pm (AEDT) on 3 February 2026. The company will host a shareholder webcast on Monday, 19 January 2026 to further discuss the results.
