The Mercury NZ Ltd (ASX: MCY) share price is in the spotlight today after the company reported a 32,000% surge in net profit to NZ$321 million and an 18th straight year of ordinary dividend growth.
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What did Mercury NZ report?
- Revenue: NZ$3,224 million, down 8% on FY25
- Net Profit After Tax (NPAT): NZ$321 million, up markedly from the prior year
- EBITDAF: NZ$1,068 million, up 36% year-on-year
- Final dividend: 17.0 NZ cents per share, fully imputed; total FY26 dividend 27.0 NZ cents per share
- Net tangible assets: NZ$3.62 per share, up from NZ$3.41
What else do investors need to know?
Mercury continued its impressive run of investments in renewable generation, completing three projects in 2026 and committing NZ$710 million (66% of operating earnings) to new and existing assets. Major developments included expanding the Ngā Tamariki Geothermal Station and commissioning the Kaiwera Downs 2 and Kaiwaikawe wind farms.
The company also made strides in supporting New Zealand's energy transition, investing NZ$53 million for a 12.7% stake in Datagrid NZ and securing a 140MW power purchase option agreement with the data centre operator. Mercury's Board approved the next big project—the Puke Kapo Hau (Mahinerangi Stage 2) Wind Farm—positioned to become the nation's largest.
On the customer front, Mercury launched Flex Rates, empowering eligible customers with flexible, time-of-use plans. It also extended support to social retailers and community groups.
What's next for Mercury NZ?
Looking ahead, Mercury is preparing to deliver new generation from recently completed assets and progress construction on the Puke Kapo Hau Wind Farm, which the board approved in August. The company's FY27 guidance points to EBITDAF of NZ$1,075 million and an ordinary dividend of 29.0 NZ cents per share.
Management highlighted a strong balance sheet and room for further renewable investment, upholding plans to provide sustainable value to shareholders while supporting national growth and decarbonisation.
Mercury NZ share price snapshot
Over the past 12 months, Mercury NZ shares have declined 3%, trailing the All Ordinaries Index (ASX: XAO), which is flat over the same period.
