iFAST’s Third Interim Dividend Rises to 3.20 Cents: What Supports the Payout?

iFAST Corporation (SGX: AIY) has declared a 3.20-cent third interim dividend for FY2026, up from 2.30 cents a year ago. For dividend investors, the useful question is whether the higher payout is backed by more than rising profit. The answer from its unaudited results announced on 26 October 2026 is encouraging, but the cash figures need care. [S2, p. 14] [S2, p. 24] [S3, p. 1]

A higher payment, with the full-year aim unchanged

The first three FY2026 interim dividends total 8.70 cents per share, compared with 5.90 cents over the same period last year. The directors still expect to propose a full-year dividend of at least 12.00 cents. That expectation was raised in July; the third interim dividend is the new declaration in these results. A further 3.30 cents would bring the year’s total to exactly 12.00 cents, but no later dividend has been declared in this filing. [S4, p. 13] [S4, p. 18] [S4, p. 45]

The third interim dividend is scheduled to trade ex-dividend on 4 November 2026. The record date is 5 November at 5 p.m., and payment is scheduled for 19 November. These are upcoming dates as of 27 October 2026. [S1, p. 1] [S4, p. 14]

Earnings support the increase

Profit attributable to iFAST shareholders rose to S$90.27 million for the nine months ended 30 September 2026, from S$67.15 million a year earlier. Third-quarter attributable profit was S$32.37 million, versus S$26.01 million. The company points to its wealth-management platform, Hong Kong ePension business and UK bank as contributors to profit growth. [S4, p. 17] [S4, p. 18] [S2, p. 22]

The nine-month dividend payout ratio rose to 29.4% from 26.5%, using dividend per share divided by basic earnings per share. The dividend is therefore taking a larger share of earnings even as earnings grow. iFAST says it wants flexibility for growth, capital requirements and other business needs; its longer-term discussion of a higher payout ratio is a direction, not a commitment for this year. [S3, p. 2] [S4, p. 45]

Cash tells a more mixed story

Group net cash from operating activities fell to S$357.13 million in the nine months, from S$562.93 million a year earlier. iFAST says the larger increase in product financing receivables was the main reason despite higher profit. Those receivables stood at S$387.94 million at 30 September, versus S$151.24 million at the end of 2025. They are an asset, but their growth ties up cash. [S2, p. 23] [S4, p. 36]

The group cash-flow total also moves with the UK bank’s customer deposits, so it should not be treated as cash freely available for dividends. iFAST separately reports S$127.74 million of operating cash flow from non-banking operations for the nine months. Its measure of cash plus liquid assets after customer deposits and borrowings rose to S$173.98 million at 30 September from S$137.56 million at the end of 2025. That measure includes liquid investments; it is not a balance of unrestricted cash set aside for shareholders. [S2, p. 23] [S4, p. 29] [S4, p. 30]

What the next results need to show

The declared third interim dividend has support from higher attributable profit, positive non-banking operating cash flow and a stronger reported net liquid-asset position. The still-expected full-year total depends on a later board decision. In the next results, watch whether product financing receivables continue to absorb cash and whether non-banking cash generation keeps pace with the larger dividend. [S2, p. 23] [S3, p. 2] [S4, p. 29] [S4, p. 30]