BUZZ-Australia's Bravura Solutions soars on dividend resumption, forecast hike

Reuters
02-12
BUZZ-Australia's Bravura Solutions soars on dividend resumption, forecast hike

** Shares of wealth management software firm Bravura Solutions BVS.AX up 16% at A$2.680

** Stock rises as much as 20.4% earlier in the day to A$2.780, their highest since August 24, 2021

** Stock top gainer in the ASX All Ordinaries index .AORD

** Co resumes dividend payment, declares special dividend of 8.92 Australian cents per share and an interim dividend of 1.6 Australian cents apiece

** Last time it paid dividend was in 2022

** Co hikes FY25 cash EBITA forecast to between A$38 million ($23.91 million) and A$41 million, from A$28 million-A$32 million previously expected

** Posts 1H25 underlying NPAT of A$11.3 million, slightly below Visible Alpha consensus of A$12.6 million

** Suspends on market buy-back; it had announced A$20 million buyback August last year

** More than 1.2 mln shares change hands, vs the 30-day average of 921,000 share

** Stock up about 28% this year, including day's moves

($1 = 1.5893 Australian dollars)

(Reporting by Jasmeen Ara Shaikh in Bengaluru)

((Jasmeenaraislam.shaikh@thomsonreuters.com))

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