Guess which $12 billion ASX 200 stock just lifted its dividend by 10%

Passive income investors will be pleased with the latest results from this ASX 200 stock.

S&P/ASX 200 Index (ASX: XJO) stock Washington H Soul Pattinson & Company Ltd (ASX: SOL), or Soul Patts, just announced another increase to its dividend payout.

Though that's so far failed to boost the Soul Patts share price in early trade today.

Shares in the diversified investment house closed yesterday trading for $33.52. In morning trade on Thursday, shares are changing hands for $33.09 apiece, down 1.3%.

This sees the company commanding a market cap just north of $12 billion.

And it comes following the release of Soul Patts' half-year results for the six months ending 31 January (H1 FY 2025).

Accountant woman counting an Australian money and using calculator for calculating dividend yield.

Image source: Getty Images

Soul Patts share price struggles despite profit boost

  • Net cash flow from investments (NCFI) up 9.9% year on year to $289.5 million
  • Net asset value (NAV) of $12.1 billion, up 2.6% from H1 FY 2024
  • Regular net profit after tax (NPAT) of $284.8 million, up 18.0%
  • Fully franked interim dividend of 44 cents per share, 10% more than last year's interim dividend

What else happened with the ASX 200 stock over the half year?

Soul Patts credited the 18% increase in regular NPAT for the six-month period to higher operating results from its strategic investments and growing cash flow from its credit portfolio.

Statutory NPAT was up 8.1% year on year to $326.9 million. The ASX 200 stock said this result included a one-off gain from the partial sell-down of Tuas, which was offset by some impairment expenses in Aeris and Brickworks.

On the risk front, Soul Patts said it managed risk during the half-year through a combination of portfolio rebalancing and maintaining a strong cash position. Total transaction activity for the six months came to $1.9 billion.

And the company notched another passive income milestone, with 2025 marking the 25th consecutive year Soul Patts has increased dividends.

What did management say?

Commenting on the half-year results for the ASX 200 stock, Soul Patts CEO Todd Barlow said:

Our commitment to long-term value creation, decisive investment strategies and an open mandate to seek the highest quality returns continues to benefit our shareholders. Overall, our first half results were strong, demonstrating solid performance against our three key investment measures….

Our net cash position increased by $502 million. This brings cash and liquid income funds up to $716 million, supported by our successful capital raising in August 2024, providing us with significant funds and flexibility for future investments.

What's next for the ASX 200 stock?

Looking at what could impact the ASX 200 stock in the months ahead, Soul Patts said:

[We are] well positioned to navigate current market uncertainty with our strong liquidity position and low gearing. This financial strength allows us to continue looking at opportunities that will create long-term value.

Soul Patts share price snapshot

With today's intraday dip to the Soul Patts share price factored in, the ASX 200 stock is down 5.5% in a year, not including dividends.

The Motley Fool Australia's parent company Motley Fool Holdings Inc. has positions in and has recommended Washington H. Soul Pattinson and Company Limited. The Motley Fool Australia has positions in and has recommended Washington H. Soul Pattinson and Company Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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