Shareholders of listed lenders mortgage insurance business Helia once again have their eyes peeled out for a bumper dividend, as the company unwinds its bloated cash reserves.Sell-side analysts were expecting Helia to post a final dividend in the 39¢ range on Friday but some buy-side boffins reckoned this could be as high as 65¢ and fully franked if Helia hits the top-end of its guidance range.
The company, whose clients include Commonwealth Bank of Australia, has turned into a magnet for yield-hungry equity investors, thanks to its conservative COVID reserving policies. It left Helia with a higher than needed PCA ratio, which it committed to bringing back to a new target range of 1.4-times to 1.6-times by May 2024.
It’s almost halfway through that self-set deadline but is still floating around the 2.1-times times, meaning there’s still a lot more cash to come investors’ way.co-edits Street Talk, specialising in private equity, investment banking, M&A and equity capital markets. He has 10 years' experience as a business journalist and worked at PwC, auditing and advising financial services companies.
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