2221 GMT - Dividends could soon be on the table from life insurer Noble Oak, reckons Barrenjoey. Noble Oak beat expectations with 1H underlying net profit growth of 11%, reflecting improved margins in Strategic Partners and Genus. "Noble Oak is now at a tipping point where policy cash flows turn positive in coming years," says analyst Nick McGarrigle. That means it won't need to raise capital to fund growth from its existing businesses and could start paying dividends. "A 30-50% payout implies a 4-7% fully franked yield for FY 2026," says Barrenjoey, which isn't yet ready to assume dividends in its model. (david.winning@wsj.com; @dwinningWSJ)
(END) Dow Jones Newswires
March 02, 2025 17:21 ET (22:21 GMT)
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