The Iluka Resources Ltd (ASX: ILU) share price is in focus today after releasing its 2026 half-year results, highlighted by strong cash generation and a reduction in net debt.

What did Iluka Resources report?

• Mineral sands revenue: $433 million (down 22% from HY 2025)
• Underlying group EBITDA: $53 million (down 77%)
• Net profit after tax (NPAT): $(24) million (HY 2025: $92 million)
• Operating cash flow: $247 million (up 115%)
• Free cash flow – mineral sands: $200 million (HY 2025: $(192) million)
• Interim dividend: 3 cents per share fully franked (up 50%)

What else do investors need to know?

Iluka commissioned its Balranald mine, with both mining rigs now operating and focus on improved extraction and recoveries as ramp-up continues. The Eneabba rare earths refinery is progressing as scheduled and within budget, with construction now 60% complete and the project benefiting from its first rare earth offtake agreement and strengthened long-term feedstock supply.

The company’s mineral sands business saw improved cash flows driven by inventory sales and higher zircon prices, enabling a significant reduction in mineral sands net debt from $473 million to $273 million since December 2025.

What did Iluka Resources management say?

Speaking about the results, Iluka’s managing director, Tom O’Leary, commented:

In rare earths, the Eneabba refinery has progressed on schedule and budget. All major equipment has been delivered to site, construction is 60% complete and confidence in the project’s capital estimate has continued to strengthen. In parallel, Iluka entered into its first offtake agreement – covering both light and heavy magnet rare earth oxides – and strengthened the refinery’s long term feedstock position.

What’s next for Iluka Resources?

Iluka remains focused on ramping up operations at Balranald, boosting ore extraction and recoveries. The Eneabba rare earths refinery is on track for commissioning in 2027, with management highlighting the project’s backing and strategic timing amidst global demand for rare earths.

The company will continue to prioritise operational execution and balance sheet strength in the second half of 2026, looking to benefit from a recovering zircon market and progressing growth projects.

Iluka Resources share price snapshot

The Iluka Resources share price has outperformed the S&P/ASX 200 index (ASX: XJO) over the past 12 months with a gain of around 7.5%.

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The post Iluka Resources shares: 2026 half-year earnings results unravelled appeared first on The Motley Fool Australia.

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Motley Fool contributor James Mickleboro 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 Mirvac Group (ASX: MGR) share price is on the radar today after announcing a 7% lift in operating profit to $508 million and a 6% increase in distributions to $376 million for FY26, both in line with guidance.

What did Mirvac Group report?

• Operating profit after tax rose 7% to $508 million (FY25: $474 million)
• Operating earnings per stapled security up to 12.9 cents (FY25: 12.0 cpss)
• Statutory profit jumped to $677 million (FY25: $68 million)
• Distribution increased 6% to $376 million, or 9.5 cpss
• Net tangible assets per security of $2.33 (up from $2.26)
• Gearing improved to 24.1% from 27.6%

What else do investors need to know?

Mirvac’s residential divisions saw a 15% increase in sales, with 2,130 residential lots settled and gross margins improving to 24%. The commercial and mixed-use portfolio delivered $88 million in EBIT, supported by project completions and new developments.

Occupancy across the investment portfolio was a strong 98%, with like-for-like income growth at 5.3%. The company also completed over $500 million in asset sales, boosting liquidity and helping to recapitalise its funds platform, which now manages over $18 billion in third-party capital. Mirvac announced an on-market buy-back of up to $200 million in securities as part of its capital management strategy.

What did Mirvac Group management say?

Mirvac’s CEO & Managing Director, Campbell Hanan, said:

FY26 was a year of execution, with earnings growth of 7 per cent. Our results today reflect the work we have done over the past three years to reset the business, improve asset quality and drive higher returns.

Importantly, this has been achieved while strengthening our balance sheet, with gearing within our target range at 24.1 per cent, and strong liquidity and credit ratings maintained. Following the progress we have made to reposition the portfolio, strengthen the balance sheet and improve earnings visibility, we have announced an on-market share buy-back of Mirvac securities of up to $200 million. This reflects our confidence in the value embedded in the business, while providing us with flexibility to deploy capital to opportunities where we see the most value for securityholders.

What’s next for Mirvac Group?

For FY27, Mirvac is targeting operating earnings per security of 13.2 to 13.4 cents and a distribution of 9.9 cents, assuming market conditions remain steady. The company aims to settle between 2,800 and 3,100 residential lots in the coming year, with a weighted average cost of debt expected around 5.7%.

Management expects ongoing support from its expanded residential pipeline, growing funds management platform, and new commercial projects. While some uncertainty remains in the market, Mirvac believes it’s well positioned for sustained earnings and NTA growth.

Mirvac Group share price snapshot

It has been a tough 12 months for the Mirvac Group share price over the past 12 months. During this time, its shares have lost 25% of their value. This compares to a 2% gain by the S&P/ASX 200 index (ASX: XJO).

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The post Mirvac Group FY26 earnings: Operating profit and distributions rise appeared first on The Motley Fool Australia.

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Motley Fool contributor James Mickleboro 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.

ASX stock MFF Capital Investments Ltd (ASX: MFF) is one of my preferred ideas for passive income. It’s one of the largest positions in my portfolio, partly because of how rewarding the dividends are and how confident I am about its future.

MFF is a listed investment company (LIC), one of the largest on the ASX. An LIC aims to make money for shareholders by investing in shares (or other assets) to generate returns.

LICs can fund the dividends they pay from returns they generate. If a LIC performs strongly, it can deliver a triple benefit – a good dividend yield, a rising dividend and capital growth.

Let’s look at the elements of what makes MFF a great investment.

Strong investment performance

MFF says that it aims to build lasting wealth for shareholders primarily through long-term ownership of advantaged businesses. Its strategy favours duration and enables the power of compounding.

The business has largely focused on global blue-chips which can provide pleasing long-term returns. This investment style has delivered good returns.

As of 30 June 2026, over the prior decade, its pre-tax net tangible assets (NTA) return (with taxes reinstated) has averaged 15.5% per year. I think most LICs would be very happy with that level of return over the last 10 years.

Over time, I expect the investment portfolio may change, and MFF has the investment flexibility to look for the best opportunities across the global (and ASX) share market.

Good passive dividend income

MFF has steadily grown its regular annual dividend per share each year since FY18, providing several years of dividend growth, and that trend continued in FY26.

The FY26 annual dividend per share was hiked by 23.5% to 21 cents per share. The MFF leadership has provided guidance that it’s going to continue hiking its half-year dividend by another 1 cent per share in six months. MFF has been growing its half-year dividend each year since 2024. The next dividend is guided to be 12 cents per share in six months.

If the ASX stock continues with that track record, it would pay an annual dividend per share of 25 cents in FY27 – that would represent a grossed-up dividend yield of 6.7%, including franking credits, at the time of writing. It would also represent a year-over-year increase of 19%.

Pleasing capital growth

With all of the investment returns that MFF has generated over the years, the business has been able to provide pleasing dividends and the retained money is helping drive the MFF share price and NTA higher.

Over the prior five years, the MFF share price has climbed by 82%, at the time of writing.

Considering the excellent dividend payouts over the past five years, I’d say that MFF’s capital growth has been very pleasing. Of course, past performance is not a guarantee of future performance.

$1,000 of passive income per month

MFF doesn’t pay a dividend each month, it only pays every six months. But we can take that monthly goal and multiply it by 12 for an annual goal. Investors can then divide the received dividends into monthly chunks.

The FY26 final dividend of 11 cents per share will be paid in October and the LIC expects to announce an interim dividend of 12 cents per share in six months. Therefore, we’re looking at 23 cents per share of dividends within the next 12 months.

To receive $12,000 of dividend cash within the next year, an investor would need to own 52,174 MFF shares.

If we include franking credits as part of the income, then an investor would only need 36,519 MFF shares for $12,000 of annual passive income.

I think this would be a solid investment for the long-term right now and I’d happily buy a bit more of the ASX stock at this price.

The post I’d buy 36,519 shares of this ASX stock to aim for $1,000 a month of passive income appeared first on The Motley Fool Australia.

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Motley Fool contributor Tristan Harrison has positions in Mff Capital Investments. 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 positions in and has recommended Mff Capital Investments. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.