AMP Ltd (ASX: AMP) shares are storming higher today.
Shares in the S&P/ASX 200 Index (ASX: XJO) diversified financial services company closed yesterday trading for $1.28. In earlier trade today, shares were changing hands for $1.40 each, up 9.4%. At the time of writing, shares are trading for $1.37 apiece, up 6.9%.
That performance is noteworthy amid the broader market selling action today, with the ASX 200 down 1.2% at this same time at 8.931.8 points.
Here's what looks to be driving AMP's outperformance today.
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AMP shares in oversold zone
With no fresh news out from the company, the ASX 200 financial stock appears to be benefiting from bargain-hunting investors today, after getting clobbered yesterday.
If you had an eye on the boards, you'll have noticed that AMP shares closed down a precipitous 26.7% on Thursday, with shares down as much as 33.1% in intraday trading.
That big sell-down followed the release of AMP's full calendar year 2025 results, with many of those results falling short of consensus expectations.
On the plus side, the wealth manager reported a 9% year-on-year increase in total assets under management (AUM) to $161.7 billion. And underlying net profit after tax (NPAT) was up 20.8% to $285 million.
However, statutory NPAT went the other way, slumping 11.3% to $133 million, which the company said reflected legacy legal settlements during the year.
And with the company forecasting tighter margins in its platforms business, even the boosted final dividend wasn't enough to keep AMP shares from tumbling.
Management declared a partly franked final dividend of 2 cents per share, bringing the full-year payout to 4 cents per share. That's up from the 3 cents per share AMP paid out in 2024.
At the current price, AMP stock trades on a partly franked dividend yield of 3%.
If you're after that final AMP dividend (representing a 1.5% yield in itself), you'll need to own shares at market close on 26 February. AMP trades ex-dividend on 27 February. You can then expect to receive that passive income payout on 2 April.
What did management say?
"2025 was an important year for AMP with resolution of legacy items and stabilisation of the portfolio," outgoing CEO Alexis George said.
Looking to what's ahead for AMP shares, George added:
This enabled renewed focus on winning in the segments we play, growing the wealth businesses, and building on the vision to be the place that customers come to plan for a dignified retirement
George will step down from her role as CEO on 30 March. She will be replaced by Blair Vernon, the current chief financial officer (CFO) of AMP.
