Anglo-Eastern Plantations

Anglo-Eastern Plantations Dividend Analysis and Summary

• Declared dividend: 3.73 US cents per share (interim) for the six months ended 30/06/2026 (unchanged vs 2025 interim, adjusted for the 10-for-1 share split).
• Ex-dividend date: 05/11/2026 (derived as one business day before the record date).
• Record date: 06/11/2026.
• Payment date: 11/12/2026.
• Currency: Declared in USD. UK-registered addresses default to GBP; others default to USD. For GBP payers, the FX conversion will use the rate on 06/11/2026 (record date).
• Comparative: Interim DPS is flat year-on-year at 3.73c.

• Sustainability: The dividend appears well supported by the balance sheet and cash generation. The Group reports net cash of $99.0m at 30/09/2026 even after significant outlays for acquisitions and buybacks, indicating headroom to maintain current DPS.
• Operational underpin: Strong volume growth (CPO +17.9%, PK +17.0%) with stable average CPO ex-mill prices ($855/mt, flat YoY) points to resilient revenue momentum, aided by the Pinago acquisition and higher external FFB purchases.
• Growth trajectory: The interim DPS is unchanged, signalling a cautious stance amid capex and integration. Share buybacks ($16.4m YTD) enhance per-share economics and indirectly support DPS sustainability. Scope for future growth exists if volumes remain strong and new capacity (ninth mill) contributes from early 2027.
• Capital allocation: Despite sizeable M&A cash outflows ($160.2m for Pinago; a further $8.4m for other assets) and ongoing development/replanting, the company still returned $33.2m to shareholders (dividends $16.8m + buybacks $16.4m) in 9M26, suggesting a balanced approach between growth investment and distributions.