Wealth platforms rip higher as dividends rise; Zip tumbles despite record half

HUB24 (ASX:HUB) led the week with a 27.33% rise after declaring a fully franked 36c dividend for the half-year. Zip Co (ASX:ZIP) moved the other way, down -25.21%, even as it reported record cash earnings and later flagged a $50 million buy-back. Netwealth (ASX:NWL) rounded out the biggest moves, up 21.06% on strong funds growth, rising profit and a 20% lift in its interim dividend.

Wealth platforms: dividends rose because money kept flowing in

Netwealth (ASX:NWL) gave investors what they want from a platform: more client money on the system, more income, and a bigger cheque back. Funds under administration hit $125.6 billion, up 23.6% year-on-year, while NPAT lifted 19.9% to $69.0 million. The interim dividend rose 20% to 21.0c a share, fully franked. HUB24 (ASX:HUB) didn’t publish a full result in this briefing, but the dividend call still mattered. A fully franked 36c dividend set clear dates for investors who hold the stock for income. Those dates also tend to pull attention onto a stock, because buyers want to own it before it trades “ex-dividend” (after which new buyers don’t get that payment). Fiducian (ASX:FID) also leaned into payouts, lifting dividends 16% to 25.5c a share, fully franked, while reporting a 17% rise in underlying profit. The catch is an ASIC court case tied to a closed fund, which can worry investors because legal outcomes are hard to predict.

Consumer and SME lenders: profits improved, but funding and losses still matter

Australian Finance Group (ASX:AFG) rose 2.27% after HY26 NPAT jumped 46% to $22.4 million. Investors focused on two practical points: more brokers writing loans, and cheaper “term funding” (borrowed money locked in for a set period). AFG said its new $1.2 billion funding reduced how much its earnings move when the RBA cash rate changes. Judo Capital (ASX:JDO) slipped -1.11% even with a strong half-year. Profit before tax rose 53% year-on-year, and the loan book reached $13.4 billion. Investors can still get cautious on lenders when growth is fast, because faster growth can mean more risk if the economy slows and more borrowers miss repayments. MoneyMe (ASX:MME) rallied 18.56% after gross revenue rose 17.2% and its loss narrowed 43.7%. The market cared about funding certainty: it completed a $455.4 million Autopay securitisation (selling bundles of loans to investors) and put in place a $300 million credit card facility.

Buy-backs and dividends: boards opened the wallet, and investors listened

QBE Insurance (ASX:QBE) gained 10.27% after posting its strongest profit in more than a decade. Net profit rose to US$2.16 billion and adjusted return on equity hit 19.8%. It lifted the final dividend to 78 Australian cents and announced a A$450 million on-market buy-back for 2026. A buy-back matters because the company becomes a buyer of its own shares, which can support the price. Challenger (ASX:CGF) rose 5.89% after reporting record annuity sales and flagging a $150 million buy-back (subject to APRA approval). Annuities are products that pay a set income, which can appeal to retirees who want predictability. Zip (ASX:ZIP) shows the other side of capital management. It reported record cash earnings and upgraded guidance, then announced a $50 million buy-back. Yet the shares still fell hard for the week. That kind of move often happens when investors decide the good news was already priced in, or they worry the growth rate could cool after a very strong run.

Insurers: profits can surge, but big weather bills don’t go away

Suncorp (ASX:SUN) fell -2.63% after reporting $1.3 billion in natural hazard claims from nine major events in the half. It still held its underlying margin and declared a 17c fully franked interim dividend. Investors tend to mark down insurers when the claims number is large, because it raises the risk that future payouts could also be higher than expected.

Trading quirks: when a stock reopens, early moves can vanish fast

A few smaller names showed “price gaps” around reopenings. WT Financial (ASX:WTL) reopened and then kept climbing, which signals sustained buying after trading resumed. Prime Financial (ASX:PFG) and InvestSMART (ASX:INV) reopened but didn’t extend those early moves, suggesting interest cooled quickly. EQT Holdings (ASX:EQT) reopened and then drifted lower, a sign sellers were ready once trading normalised.