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Ironbark Balanced Income Limited (ASX:IBC)

ALERT: Price-sensitive ASX Announcement for IBC
Current share price for IBC : $0.430 -0.03 (-6.52%)+
Announcement
Release
25 Feb 2025 10:00AM
Price at Release
$0.460
Full Release
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Summary
The half-year report for Ironbark Capital Limited for the period ending 31 December 2024 shows a net profit after tax of $1.9 million, representing a 17% decrease from the previous year. The investment revenue totaled $2.3 million, a 23.2% decline, primarily due to unrealized losses in the portfolio. The portfolio's running yield was noted at 6.74%, with a return of 4.52% reported for the half-year. The company has announced a fully franked interim dividend of 1.2 cents per share to be paid in March 2025. The report emphasizes the shift in market dynamics, particularly the impact of APRA's announcement regarding the phase-out of tier 1 bank hybrids, suggesting that the company is strategically positioned for the changes in the market.
Key Points
  • Net profit after tax was $1.9 million, down 17% from the previous year.
  • Investment revenue was $2.3 million, 23.2% lower than the prior corresponding period.
  • The portfolio's running yield was 6.74%, excluding option premium income.
  • The portfolio returned 4.52% for the half-year.
  • A fully franked interim dividend of 1.2 cents per share has been declared.
  • APRA announced the phase-out of tier 1 bank hybrids, impacting the investment strategy.
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.