Takeover Bids, Big Dividends and Bank Selling Shape ASX Finance Week

FleetPartners (ASX:FPR) was the clear leader, rising 21.33% as three potential buyers received limited access for checks. Helia Group (ASX:HLI) followed with a 11.79% gain after announcing 43 cents per share in dividends and a $75 million buy-back. Westpac Banking Corporation (ASX:WBC) moved the other way, falling 6.75% despite reporting higher profit and loan growth.

FleetPartners’ rise came from a possible takeover battle. SG Fleet, Element Fleet Management and ORIX have made non-binding offers, meaning none is certain to proceed. The board has allowed limited checks under confidentiality agreements. The stock reopened at $3.73, then climbed another 12.87%. That sustained buying shows investors are still hoping a higher bid will emerge. The risk is that all three parties walk away.

Banks delivered profits, but share prices fell

Westpac’s third-quarter statutory profit rose 3% to $1.8 billion. Loans and deposits each grew 2%, while business lending increased 4%. The bank also sold a $15.4 billion RAMS mortgage portfolio, which reduced the size of its balance sheet. Even so, the stock fell. Investors may have focused on the bank’s 1% rise in expenses and the limited profit increase.

Commonwealth Bank of Australia (ASX:CBA) reported a stronger result. Statutory profit rose 7% to $10.87 billion, while its net interest margin stayed at 2.05%. This measure shows how much the bank earns from lending after paying interest on deposits. CBA declared a fully franked final dividend of 270 cents, taking the FY26 total to 505 cents. Yet its shares fell 6.09% for the week. ANZ Group Holdings (ASX:ANZ) gained 3.07% after its capital ratio improved to 12.51%, although it booked a NZ$125 million legal provision.

Insurance returns split investors

Helia Group’s profit fell 25% to $100 million as premiums and investment income declined. Its new four-year lending insurance agreement with ING, combined with the dividends and buy-back, helped investors look past the weaker result. Insurance Australia Group (ASX:IAG) rose revenue 15.1% to $21.3 billion, but profit fell 24.8% to $1.022 billion. Natural disaster claims and RACQ acquisition costs weighed on the result. IAG shares fell 5.68%.

QBE Insurance Group (ASX:QBE) reported a steadier first half. Profit increased 1% to US$1.03 billion, premiums rose 6% and its combined operating ratio stayed at 92.8%. That ratio measures claims and operating costs against premium income. Despite the stable figures, QBE fell 5.45%. Suncorp Group (ASX:SUN) gained 1.86% after announcing a 10-cent special dividend and a buy-back, even though natural disaster costs cut profit by 34%.

Income remains a major selling point

Listed investment companies continued to raise or promote dividends. PM Capital Global Opportunities Fund (ASX:PGF) lifted FY27 dividend guidance to at least 16 cents and raised $221 million at its estimated asset value. WAM Strategic Value (ASX:WAR) increased its dividend to 6.5 cents while its shares traded at a 21% discount to the value of its investments. WAM Leaders (ASX:WLE) raised $225 million and opened a $150 million share purchase plan.

Other companies also returned cash. Bank of Queensland (ASX:BOQ) announced a $295 million package made up of a 15-cent special dividend and a $196 million buy-back. Computershare (ASX:CPU) lifted its final dividend 35% to 65 cents, helped by fee growth and interest-rate hedging. Its shares still fell 5.73%. Argo Investments (ASX:ARG) will move to quarterly dividends, while Perpetual Equity Investment Company (ASX:PIC) plans monthly dividends from December 2026.

Results from investment managers were mixed. Bell Financial Group (ASX:BFG) more than doubled half-year profit to $21.7 million after stronger markets and the launch of its private wealth platform. GQG Partners (ASX:GQG) saw July funds under management edge up to US$156.4 billion, but clients withdrew US$4.5 billion. Bailador Technology Investments (ASX:BTI) maintained its dividend despite a 64% profit fall. Microequities Asset Management Group (ASX:MAM) reported a 20.1% profit decline as technology valuations fell.

The week also showed the risks in smaller companies. Sequoia Financial Group (ASX:SEQ) cancelled its interim dividend because of ongoing court proceedings. ECP Emerging Growth (ASX:ECP) reported a 20.4% portfolio loss but kept its final dividend at 3.15 cents. In the takeover market, GWR Group (ASX:GWR) won no interim restrictions from the Takeovers Panel, but the full review remains ahead. The stock’s early move did not continue after reopening, leaving its weekly result at 3.45%.