RYD

 RYD

21-07-26

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ASX:RYD (Ryder Capital Limited) is a Listed Investment Company (LIC) focusing on small-to-mid-cap Australian equities. Over the last 5 years, it has delivered an average pre-tax NTA (Net Tangible Assets) return of +8.7% per annum. The company operates with minimal corporate debt and provides a reliable, fully franked dividend of 12.0 cents per share annually. [1, 2, 3, 4, 5]

Financial Highlights

Profit & Earnings: As a closed-end LIC, profit is largely driven by unrealized and realized portfolio gains, which can be volatile. For example, the six months ending December 2025 saw a record total comprehensive after-tax income of \(\$42.53\text{M}\) driven by strong small-cap market performance. [1, 2, 3]
Debt & Leverage: The company is generally ungeared at the corporate level, relying entirely on its equity base to fund its concentrated investment portfolio. [1, 2, 3]
ROE & Returns: Due to the fluctuating nature of LIC investment earnings, Return on Equity (ROE) swings with the market. While historical ROE has sometimes registered negative during broader small-cap pullbacks, the 5-year and long-term pre-tax NTA return hovers around +8.7% per annum. [1, 2, 3]
Dividends: As of mid-2026, RYD commits to an annual fully franked dividend of \(12.0\text{ cps}\). Based on a share price of approximately \(\$1.76\), this represents a yield of roughly \(6.8\%\text{--}8.2\%\). [1, 2]
Distributable Profits: The fund has built a strong retained profit reserve, with distributable profit reserves providing over five years of dividend coverage. [1]

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