The Perpetual Equity Investment Company Ltd (ASX: PIC) share price is in focus today after the company reported a net profit after tax of $12.1 million for FY26 and declared a fully franked full-year dividend of 8.0 cents per share, consistent with the previous year.

What did Perpetual Equity Investment Company report?

• Net profit after tax (NPAT): $12.1 million for FY26
• Fully franked full-year dividend: 8.0 cents per share, matching FY25
• Dividend yield: 6.8%, grossed-up yield of 9.7% based on a share price of $1.18
• Profit reserve: $63 million, providing 2.0 years of dividend coverage
• 5-year investment performance: 5% p.a. (NTA, post-fees, pre-tax)

What else do investors need to know?

Perpetual Equity Investment Company will move from paying semi-annual dividends to monthly dividends, with the first scheduled for December 2026—subject to Board approval. This change aims to give shareholders, especially those focused on regular income, timelier access to profits.

For FY26, the Company’s portfolio returned 2.8%, trailing the S&P/ASX 300 Accumulation Index’s 6.2%. At 30 June 2026, the portfolio held 77.9% in Australian listed securities, 15.6% in global listed securities, and 6.5% in cash.

What did Perpetual Equity Investment Company management say?

PIC Chairman Nancy Fox AM stated:

We are pleased to deliver another year of strong fully franked dividend income for PIC shareholders. The total FY26 dividend of 8.0 cents per share equates to an annual dividend yield of 6.8% and grossed up yield of 9.7%. This compares favourably to the dividend yield of the S&P/ASX 300 Accumulation Index which was 3.1% as at 30 June 2026. Earlier this month, we announced that PIC will transition from semi-annual to monthly dividend payments… The Board remains focused on prudent capital management to ensure the overall position of the Company remains strong.

What’s next for Perpetual Equity Investment Company?

Looking ahead, the move to monthly dividends is expected to appeal to income-focused investors. The Board plans to maintain a strong focus on capital management and dividend sustainability, backed by a sizable profit reserve.

Management’s disciplined approach will continue to prioritise high-quality businesses, with a view to navigating ongoing market volatility and seeking out value opportunities for shareholders.

Perpetual Equity Investment Company share price snapshot

Over the past 12 months, Perpetual shares have declined 5%, trailing the All Ordinaries Index (ASX: XAO), which has risen 1% over the same period.

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The post Perpetual Equity Investment Company delivers FY26 profit and steady dividend appeared first on The Motley Fool Australia.

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Motley Fool contributor Laura Stewart has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips. This article was prepared with the assistance of Large Language Model (LLM) tools for the initial summary of the company announcement. Any content assisted by AI is subject to our robust human-in-the-loop quality control framework, involving thorough review, substantial editing, and fact-checking by our experienced writers and editors holding appropriate credentials. The Motley Fool Australia stands behind the work of our editorial team and takes ultimate responsibility for the content published by The Motley Fool Australia.

The Beacon Minerals Ltd (ASX: BCN) share price is in focus after the company announced a massive 325% lift in ore reserves at its Lady Ida Project’s Iguana Deposit, alongside an estimated pre-tax free cash flow of A$841 million.

What did Beacon Minerals report?

• Ore Reserve Estimate: 11.0 million tonnes at 1.20 g/t gold for 430,200 ounces (1% Proved, 99% Probable), up 325%.
• Pre-tax free cash flow: Estimated at A$841 million (undiscounted) at A$5,500/oz gold over nine years.
• Average all-in sustaining cost (AISC): A$3,283 per ounce across the project’s nine-year life.
• Mineral Resource Estimate: 11.5 million tonnes at 1.4 g/t gold for 533,000 ounces, up 266% in measured and indicated resource ounces.
• Ore Reserve to Mineral Resource conversion ratio: 81%.
• Establishment capital: A$2.5 million, including camp and haul roads.

What else do investors need to know?

The significant ore reserve and mineral resource increases were driven by a +75,000 metre drill campaign completed in May 2026. The Iguana deposit ore will be hauled 43 kilometres to Beacon’s Jaurdi process plant, where a conventional CIP circuit will be used. The operation is now modelled to support nine years of mining, with marginal impact from different gold prices, thanks to robust cost controls and improved orebody definition.

The Jaurdi Mill upgrade is scheduled for completion in November, aimed at supporting sustained throughput from the more extensive Iguana ore body. Beacon notes all key mining approvals are in place, and the mineralisation remains open at depth for future exploration.

What did Beacon Minerals management say?

Graham McGarry, Executive Chairman and Managing Director said:

The significant increase in ore reserves following our +75,000 metre drill campaign which concluded in May 2026 has enhanced the value of the Iguana deposit for the benefit of our shareholders. The Jaurdi Mill upgrade scheduled to be completed in November will complement our successful ore reserve drill campaign.

What’s next for Beacon Minerals?

Beacon will focus on bringing the expanded Iguana deposit into full production, leveraging the upcoming Jaurdi Mill upgrade. The company plans to continue exploration at depth and along strike to further grow resources. Operational guidance remains unchanged, and all approvals and infrastructure are in place to deliver on the updated mining schedule.

With gold recovery and processing proven through earlier operations and test work, Beacon Minerals is aiming for steady and predictable output. The conversion of further mineral resources to reserves remains a priority, with scope for continued exploration success at Lady Ida.

Beacon Minerals share price snapshot

Over the past 12 months, Beacon Minerals shares have risen 73%, outperforming the All Ordinaries Index (ASX: XAO) by a wide margin.

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The post Beacon Minerals posts 325% jump in Lady Ida reserves and outlines big 2026 plans appeared first on The Motley Fool Australia.

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Motley Fool contributor Laura Stewart has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips. This article was prepared with the assistance of Large Language Model (LLM) tools for the initial summary of the company announcement. Any content assisted by AI is subject to our robust human-in-the-loop quality control framework, involving thorough review, substantial editing, and fact-checking by our experienced writers and editors holding appropriate credentials. The Motley Fool Australia stands behind the work of our editorial team and takes ultimate responsibility for the content published by The Motley Fool Australia.

Santos Ltd (ASX: STO) this week reported what broker UBS described as a “strong” first-half result, beating market expectations in a period the company is describing as a transition year.

Profit down but stronger second half expected

The oil and gas major reported first-half revenue of US$2620 million, up 2% on the same period the previous year, and net profit of US$355 million, down 19%.

Santos Managing Director Kevin Gallagher said the company was entering the second half in a stronger position.

He added:

The first half marked an important step forward for Santos. We brought the Pikka project online safely and continued to progress Barossa through commissioning towards steady-state production, while the base business continued to perform strongly. Pikka achieved first oil in May, moved to continuous production in June and we lifted our first crude oil cargo last week. Production is expected to build towards the 80,000 bbl/d gross plateau late in the third quarter, and our drilling program is consistently beating technical limits, reducing the time and cost to drill a well. Barossa is safely progressing through commissioning to steady state production, with current production around 550 mmscf/d and planned to increase further to around 600 mmscf/d by end of the quarter. At steady state production the current cargo cadence is one approximately every eight days, while Darwin LNG delivered 100 per cent plant reliability in the first half.

Mr Gallagher said with the major development of Barossa and Pikka complete, the company was expecting second-half production to be 20% to 30% higher than the first half, “supporting stronger free cash flow and returns for shareholders”.

Mr Gallagher said the Papua LNG project would be a focus in the second half and was on track for a final investment decision in the fourth quarter of 2026.

He added:

Project financing continues to progress well, with at least 60 per cent targeted to be funded through project financing facilities. Strong performance from the base business and continued capital discipline are funding investment in the next generation of low-cost, high-margin production growth opportunities in our deep portfolio.

Santos shares a buy, but looking fully valued

UBS said in a note to clients following Santos’ financial report that the company’s strong dividend of US11.6 cents stood out, indicating the board had confidence in the second-half outlook.

They said the company was well-leveraged to higher oil prices.

They added:

STO has 80% of its LNG sales indexed to oil and/or Japan/Korea Marker on an approx 3 month lag, and so the spike in oil & LNG prices arising from the Middle East conflict carries stronger cashflows though to at least ~Nov-26. We expect STO will qualify for its new higher div payout (lifting from 40% of FCF ex growth to >60% of all-in FCF) when Pikka and Barossa reach plateau production, expected within the next 40 days turning on stronger cash returns from the Feb-27 result onwards.

UBS has a buy rating on Santos shares with a price target of $8.30, compared to $8.31 currently.

The post Are Santos shares a buy following their half year results? appeared first on The Motley Fool Australia.

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Motley Fool contributor Cameron England has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.