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BKI Investment Company Limited (ASX:BKI)

ALERT: Price-sensitive ASX Announcement for BKI
Current share price for BKI : $1.760 -0.03 (-1.68%)+
Announcement
Release
13 Oct 2026 10:29AM
Price at Release
$1.790
Full Release
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Summary
BKI Investment Company Limited’s 2026 AGM presentation, released on 13 October 2026, outlines FY2026 results and an FY2027 year-to-date update as at 30 September 2026, highlighting BKI’s long-term, research-driven Australian equity strategy and investor-focused low-fee structure. For the year ended 30 June 2026, ordinary revenue from the investment portfolio rose 4% to $67.8 million, total ordinary revenue increased 2% to $70.7 million, operating result before special investment revenue rose 3% to $62.8 million, net profit after tax was $64.4 million, earnings per share were 7.98 cps including special investment revenue, and the ordinary dividend increased to 7.95 cps, continuing more than 20 years of fully franked dividends; BKI also reported a 0.16% management expense ratio, cumulative share price returns of $8.16 assuming reinvested dividends and franking credits, a grossed-up dividend yield of 6.2% versus a 3.5% post-tax cash rate, and a pre-tax NTA of $2.07 per share with the share price at $1.825, an 11.8% discount at 30 June 2026. The presentation shows portfolio and shareholder return performance generally ahead of major Australian ETFs over selected periods, details portfolio movements including new positions in Origin Energy and Westpac, additions to holdings such as Woodside, BHP and APA, and exits from Suncorp, Aurizon, Yancoal, Tuas, Reece and Johns Lyng. The FY2027 update notes inflation and interest rates remain key market issues, with expectations for Australian rate relief delayed toward 2027–2029, while BKI emphasises defensive holdings, structural growth themes and capital discipline; as at 30 September 2026 the top holdings included BHP, APA, Commonwealth Bank and Woodside, and BKI expected first-half FY2027 ordinary revenue of about $38.0 million versus $35.0 million in the prior corresponding period, with a proposed total FY2027 ordinary dividend of 8.00 cps to be paid quarterly in four instalments of 1.950 cps, 1.975 cps, 2.000 cps and 2.075 cps by 30 June 2027.
Key Points
  • The document is BKI Investment Company Limited's 2026 Annual General Meeting presentation released on 13 October 2026.
  • The AGM presentation includes the Chairman’s and Investment Manager’s presentations and an FY2027 update as at 30 September 2026.
  • For FY2026, ordinary revenue from the investment portfolio increased to $67.8 million and total ordinary revenue increased to $70.7 million.
  • FY2026 operating result after tax before special investment revenue rose to $62.8 million and net profit after tax was $64.4 million.
  • FY2026 earnings per share were 7.78 cps before special investment revenue and 7.98 cps including special investment revenue.
  • The FY2026 ordinary dividend was 7.95 cps, up 1% on FY2025, continuing BKI’s long record of fully franked dividends.
  • BKI reported a low management expense ratio of 0.16% and cumulative share price returns of $8.16 per share assuming reinvested dividends and franking credits.
  • At 30 June 2026, BKI’s grossed-up dividend yield was 6.2% compared with a 3.5% post-tax cash rate.
  • At 30 June 2026, BKI’s pre-tax NTA was $2.07 per share and the share price of $1.825 represented an 11.8% discount to pre-tax NTA.
  • The presentation compares BKI favourably with major Australian ETFs on dividend yield and selected return measures.
  • Portfolio changes included new investments in Origin Energy and Westpac Banking Group and additions to Woodside Energy, BHP Group, Sonic Healthcare, APA Group, Amcor and Smartgroup.
  • BKI reduced Commonwealth Bank and National Australia Bank and exited Suncorp Group, Aurizon Holdings, Yancoal Australia, Tuas Limited, Reece Limited and Johns Lyng Group.
  • The FY2027 market commentary says inflation remains the main macro concern and expected Australian rate cuts have been pushed out toward 2027 to 2029.
  • BKI highlighted defensive strengths in consumer staples, financials and infrastructure, and structural growth themes in digital infrastructure, resources and healthcare.
  • As at 30 September 2026, BHP Group was BKI’s largest holding at 12.3% of the portfolio, followed by APA Group at 7.6% and Commonwealth Bank at 6.4%.
  • BKI expected approximately $38.0 million in first-half FY2027 ordinary revenue, up from $35.0 million in first-half FY2026.
  • BKI proposed a total FY2027 ordinary dividend of 8.00 cps to be paid as quarterly dividends.
  • The quarterly FY2027 dividend timetable was 1.950 cps on 30 September 2026, 1.975 cps on 16 December 2026, 2.000 cps on 31 March 2027 and 2.075 cps on 30 June 2027.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.