Macquarie Group Ltd (ASX: MQG) likes to be a little bit different when it comes to its corporate schedule. Whilst most ASX 200 shares reported half-year earnings back in February or March, Macquarie has chosen to release its full-year earnings today, including the revelation of the latest Macquarie dividend, a good two months after most other ASX shares. These results cover the 12 months to 31 March 2026.
Strange calendar aside, Macquarie shares are faring a little worse than the broader market today (thus far anyway). At the time of writing, Macquarie stock is down 2.07% at just under $237 a share. That compares with the ASX 200's current 1.67% sell-off.
This is despite some objectively solid numbers out of the ASX 200 financial stock.
As we covered earlier today, Macquarie posted a net profit after tax of $4.85 billion for the year, up a robust 30% on FY 2025's profit. $3.19 billion of that profit came from the second half of the financial year, which was up 93% on the company's first-half profit.
Overall, Macquarie posted earnings per share (EPS) of $12.77, up 30% on the prior year, helped by an improved return on equity metric of 14% (up from 11.2% in FY 2025).
But let's talk about the new Macquarie dividend.
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Macquarie announces massive new dividend
In a pleasing result for income investors in particular, Macquarie unveiled a monster dividend this morning. The company's final dividend for FY 2026 will come in at $4.20 per share. That represents a 7.69% rise over last year's final dividend of $3.90 per share. Together with December's interim dividend of $2.80 per share, it takes Macquarie's 12-month payouts to a flat $7 per share, a healthy 27.27% rise over the FY 2025 total of $5.50 per share.
This latest final dividend is the second-largest Macquarie has ever paid out, only topped by the $4.50 per share final dividend from 2023.
Like most Macquarie dividends, though, this payout will not come with full franking credits attached. It will be partially franked at 35%, in line with the company's last three dividends. It represents a payout ratio of 50% of Macquarie's profits for the half. The company's $7 per share worth of dividends over FY2026 comes in at a payout ratio of 55%.
Investors who don't yet own Macquarie shares (or wish to buy more) have a few days to secure this payout on any new purchases. Macquarie is scheduled to trade ex-dividend for this payout on 18 May later this month. Payment day will then roll around on 2 July.
Eligible investors also have until 20 May to elect to participate in Macquarie's optional dividend reinvestment plan (DRP). That's if they wish to receive additional Macquarie shares in lieu of a cash payment, of course.
At current pricing, Macquarie shares are trading on a trailing dividend yield of 2.83%. However, we can now give the company a nominal forward yield of 2.96%.
