Ryder Capital lifts NTA, backs small-cap deals as cash falls

Ryder Capital Ltd. ( (AU:RYD) ) just unveiled an update.

Ryder Capital reported that its pre-tax net tangible assets rose 2.88 cents to $2.003 per share before a 3.0 cent fully franked quarterly dividend, delivering a 1.46% monthly return and closing pre-tax NTA at $1.9732 per share, with a fully franked annual dividend of 12 cents and a yield of 6.35%. Performance in April was supported by gains in core holdings such as Vitrafy Life Sciences, Cuscal, Polymetals and Fineos, while Lumos Diagnostics detracted, and the manager actively rebalanced by adding to positions on price weakness, backing new capital raisings, exiting Macmahon Holdings on valuation grounds, and lowering cash to 11.57% after dividends and net investing.

Ryder’s strategy remained focused on absolute returns over the RBA cash rate plus 4.25%, with its long-term record still comfortably ahead of this hurdle despite recent short-term underperformance. The firm’s continued deployment of capital into high-conviction small-cap names, alongside a substantial distributable profits reserve of 64 cents per share, underscores its commitment to sustained fully franked payouts and positions shareholders for potential upside from ongoing market volatility and corporate activity in its portfolio companies.

More about Ryder Capital Ltd.

Ryder Capital Limited is an ASX-listed listed investment company focused on Australian small- and micro-cap equities, managed by Sydney-based boutique firm Ryder Investment Management. The manager follows a high-conviction, value-driven, absolute-return strategy aimed at medium- to long-term capital growth, with a concentrated portfolio and significant alignment through its own shareholding.

Average Trading Volume: 46,477

Technical Sentiment Signal: Buy

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