Australia · Delayed Price · Currency is AUD Djerriwarrh Investments Earnings Call Transcripts
Fiscal Year 2026
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Net operating profit rose to AUD 41.4 million, with dividend yield at 7% and option income at record levels. Portfolio underperformed the S&P/ASX 200 by 4.4% due to healthcare sector weakness, but dividend growth and active capital management continued.
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Enhanced dividend yield of 6.6% (7.1% on share price) was maintained, but total return of 5.5% lagged the ASX 200 due to underperformance in key holdings and limited gold exposure. Portfolio remains defensively positioned, with a shift to quarterly dividends from May 2026.
Fiscal Year 2025
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Enhanced yield strategy delivered a 6.5% portfolio yield and a 2% increase in dividends, despite underperformance in capital growth due to defensive positioning. Portfolio adjustments included major bank and resource stock trades, with ongoing buybacks and marketing to address share price discount.
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Net operating result fell 4% to AUD 21 million, with dividend income and option income both down, but the interim dividend was maintained. The portfolio shifted away from banks toward resources and defensives, with high call option coverage and a conservative stance amid expensive market conditions.
Fiscal Year 2024
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Net operating profit rose 3% to AUD 40.3 million, with enhanced yield and fully-franked dividends well above the market. Portfolio is conservatively positioned with a net cash ratio of 4%, focusing on high-quality, high-yield stocks and active options management.