The a2 Milk Company Ltd · Dividends
ASX: A2M · Consumer Defensive · Packaged Foods Reports in NZD
Dividends per share
Per financial year, as reported in the accounts
Payment record
Totals paid and share of profit distributed
| FY | Per share | Total paid | Payout ratio |
|---|---|---|---|
| FY25 | $0.08 | $61.5M | 30% |
| FY24 | – | – | 0% |
| FY23 | – | – | 0% |
| FY22 | – | – | 0% |
| FY21 | – | – | 0% |
| FY20 | – | – | 0% |
| FY19 | – | – | 0% |
| FY18 | – | – | 0% |
| FY17 | – | – | 0% |
| FY16 | – | – | 0% |
Reading the payout ratio
The payout ratio is the share of net profit returned to shareholders as dividends. A ratio under ~70% generally leaves room to maintain the dividend through a weaker year; a ratio persistently near or above 100% means the company is paying out more than it earns, which is rarely sustainable. Per-share figures here are company-reported annual totals. Check the company's own announcements for franking credits and payment dates.
Does a2 Milk (A2M) pay a dividend?
a2 Milk did not pay a dividend in any of the nine years from FY2016 through FY2024, despite net income ranging from $30.4M to $385.8M across that period. The first dividend appears in FY2025, with $61.5M paid out and a dividend per share of $0.085.
Against FY2025 net income of $202.9M, that payout equates to a payout ratio of 30.3%, leaving the majority of earnings retained. In the years before the dividend began, surplus cash was instead directed toward share buybacks, including $12.7M in FY2020, $13.3M in FY2022 and $149.1M in FY2023, rather than to shareholder dividends. With only one year of dividend payments on record, it is not yet possible to assess consistency or growth in the payout from reported results alone.
AI-assisted analysis generated from Craytheon's verified financial data · Updated 4 Jul 2026 · How this works
Data is general information only, not financial advice. Figures are as reported in company filings (some ASX companies report in USD); share prices are AUD.