NZX (NZSE:NZX) Dividend Payout Ratio: 0.77 (As of Dec. 2025) — 33% Below Median

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Director of Data and Quant Analytics at GuruFocus
Focused on building reliable datasets, financial models, and research tools for value-minded investors. Committed to turning complex data into practical guidance for value-investing and long-term wealth.
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Founder & CEO of GuruFocus
Dr. Charlie Tian is the founder and CEO of GuruFocus.com, a leading global investment research platform established in 2004. With a Ph.D. in physics, Dr. Tian transitioned from science to finance, applying a data-driven, disciplined approach to value investing.

NZSE:NZX NZX Ltd NZSE:NZX
95 GF Score
Price NZ$1.51
GF Value NZ$1.55
Valuation Fairly Valued
! 6 Warning Signs
View Full Analysis

What is NZX Dividend Payout Ratio?

NZX NZSE:NZX +1.34% 95 Dividend Payout Ratio is 0.77 as of Dec. 2025, which is 33% below its 10-year median of 1.15. GuruFocus rates NZSE:NZX with a GF Score™ of 95/100 and a GF Value™ of NZ$1.55 (Fairly Valued). The stock has 6 warning signs investors should review. Among 327 Capital Markets companies, NZX ranks worse than 91.74% on this metric.

The Dividend Payout Ratio is the measure of dividends paid out to shareholders relative to the company's net income. It is calculated as the Dividends per Share divided by the Earnings per Share (Diluted) during the same time period. NZX's Dividend Payout Ratio for the months ended in Dec. 2025 was 0.77.

Warning Sign:

If a company's dividend payout ratio is too high, its dividend may not be sustainable. The dividend payout ratio of NZX Ltd is 0.95, which seems too high.

The historical rank and industry rank for NZX's Dividend Payout Ratio or its related term are showing as below:

NZSE:NZX' s Dividend Payout Ratio Range Over the Past 10 Years
Min: 0.71   Med: 1.15   Max: 1.69
Current: 0.95

During the past 13 years, the highest Dividend Payout Ratio of NZX was 1.69. The lowest was 0.71. And the median was 1.15.

NZSE:NZX's Dividend Payout Ratio is ranked worse than
91.74% of 327 companies
in the Capital Markets industry
Industry Median: 0.34 vs NZSE:NZX: 0.95

As of today (2026-07-19), the Dividend Yield % of NZX is 4.17%.

During the past 13 years, the highest Trailing Annual Dividend Yield of NZX was 7.30%. The lowest was 2.84%. And the median was 4.96%.

NZX's Dividends per Share for the months ended in Dec. 2025 was NZ$0.03.

During the past 3 years, the average Dividends Per Share Growth Rate was 0.60% per year. During the past 5 years, the average Dividends Per Share Growth Rate was 0.90% per year. During the past 10 years, the average Dividends Per Share Growth Rate was 1.50% per year.

During the past 13 years, the highest 3-Year average Dividends Per Share Growth Rate of NZX was 48.10% per year. The lowest was -9.60% per year. And the median was 2.45% per year.

The growth rate is calculated with least square regression.

For more information regarding to dividend, please check our Dividend Page.

* Please note that "special dividend" is not included in the calculation of dividend per share and related fields.

NZX (NZSE:NZX) Dividend Payout Ratio Explanation

In dividends investing, Dividend Payout Ratio and Dividend Growth Rate are the two most important variables for consideration. A lower payout ratio may indicate that the company has more room to increase its dividends.

NZX Dividend Payout Ratio Related Terms

NZX Dividend Payout Ratio Historical Data

* Premium members only.

The historical data trend for NZX's Dividend Payout Ratio can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

NZX Dividend Payout Ratio Chart

NZX Annual Data
Trend Dec15 Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24
Dividend Payout Ratio
Get a 7-Day Free Trial Premium Member Only Premium Member Only 0.97 1.15 1.62 1.45 0.71

NZX Semi-Annual Data
Jun16 Dec16 Jun17 Dec17 Jun18 Dec18 Jun19 Dec19 Jun20 Dec20 Jun21 Dec21 Jun22 Dec22 Jun23 Dec23 Jun24 Dec24 Jun25 Dec25
Dividend Payout Ratio Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 1.50 0.67 0.97 1.24 0.77

NZSE:NZX vs SPGI, CME, MCO: Dividend Payout Ratio Comparison

For the Financial Data & Stock Exchanges subindustry, NZX's Dividend Payout Ratio, along with its competitors' market caps and Dividend Payout Ratio data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.

NZX Dividend Payout Ratio vs Capital Markets Industry

For the Capital Markets industry and Financial Services sector, NZX's Dividend Payout Ratio distribution charts can be found below:

* The bar in red indicates where NZX's Dividend Payout Ratio falls into.


NZSE:NZX
95GF Score
NZX Ltd NZSE:NZX
Dividend Payout Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

NZX Dividend Payout Ratio Calculation

The Dividend Payout Ratio is the measure of dividends paid out to shareholders relative to the company's net income. It is calculated as the Dividends per Share divided by the Earnings per Share (Diluted) during the same time period.

NZX's Dividend Payout Ratio for the fiscal year that ended in Dec. 2024 is calculated as

Dividend Payout Ratio=Dividends per Share (A: Dec. 2024 )/ EPS without NRI (A: Dec. 2024 )
=0.061/ 0.086
=0.71

NZX's Dividend Payout Ratio for the quarter that ended in Dec. 2025 is calculated as

Dividend Payout Ratio=Dividends per Share (Q: Dec. 2025 )/ EPS without NRI (Q: Dec. 2025 )
=0.03/ 0.039
=0.77

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

Frequently Asked Questions Learn more about Dividend Payout Ratio →
What does a Dividend Payout Ratio of 0.77 mean?
NZX (NZSE:NZX) has a Dividend Payout Ratio of 0.77 as of Dec. 2025. Dividend payout ratio is the percent of company earnings paid out as dividends. View historical data on NZX and its competitors. This is 33% below median its historical median of 1.15. Over the past decade, NZX's Dividend Payout Ratio has ranged from 0.71 to 1.69. According to the industry distribution chart, NZX ranks #300 out of 327 companies in the Capital Markets industry, placing it in the top 91.7%.
Is NZX's Dividend Payout Ratio too high?
NZX's current Dividend Payout Ratio of 0.77 is 33% below median its 10-year median of 1.15. Over the past 10 years, this metric has ranged from a low of 0.71 to a high of 1.69. The Capital Markets industry median Dividend Payout Ratio is 0.34. NZX's value of 0.77 is 126.5% above this industry median. Based on the distribution chart, NZX ranks #300 out of 327 companies in the Capital Markets industry, which is in the bottom quartile relative to peers. Overall, NZX has a GF Score™ of 95/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does NZX's Dividend Payout Ratio compare to SPGI and CME?
According to the Capital Markets industry distribution chart, NZX ranks #300 out of 327 companies for Dividend Payout Ratio. This places NZX in the lower half of its industry. The industry median Dividend Payout Ratio is 0.34. NZX's value of 0.77 is 126.5% above this benchmark. Historically, NZX's own Dividend Payout Ratio has ranged from 0.71 to 1.69 over the past decade. While the company's 10-year median is 1.15 vs. the industry median of 0.34, NZX has consistently been above the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Dividend Payout Ratio for a Capital Markets company?
The median Dividend Payout Ratio among Capital Markets companies is 0.34, based on 327 companies in the industry. Companies in the top quartile (top 25%) have a Dividend Payout Ratio significantly above this median, while those in the bottom quartile fall well below. However, Dividend Payout Ratio should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. NZX's current Dividend Payout Ratio of 0.77 is 126.5% above the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Dividend Payout Ratio mean?
A high Dividend Payout Ratio can signal that a stock is expensive relative to its fundamentals. Dividend payout ratio is the percent of company earnings paid out as dividends. View historical data on NZX and its competitors. For the Capital Markets industry, the median Dividend Payout Ratio is 0.34 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. NZX's current Dividend Payout Ratio is 0.77, which is 33% below median its own 10-year median of 1.15. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is NZX stock overvalued right now?
Based on GuruFocus' analysis, NZX (NZSE:NZX) is currently considered Fairly Valued. The stock's GF Value™ is NZ$1.55, compared to a current price of NZ$1.51 — trading 2.6% below its estimated fair value. The current Dividend Payout Ratio is 0.77, which is 33% below median its 10-year median of 1.15 and 126.5% above the Capital Markets industry median of 0.34. NZX's overall GF Score™ is 95/100 with 6 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Dividend Payout Ratio calculated?
Dividend Payout Ratio is calculated from a company's financial statements. For NZX (NZSE:NZX), the current Dividend Payout Ratio is 0.77 as of Dec. 2025. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.

Is NZX (NZSE:NZX) Overvalued in 2026?

Based on GuruFocus' analysis, NZX stock appears to be undervalued. The current stock price of NZ$1.51 is trading 2.6% below its estimated GF Value™ of NZ$1.55. GuruFocus considers NZX to be Fairly Valued.

Key valuation signals for NZSE:NZX:

  • Dividend Payout Ratio: 0.77 (33% below median its 10-year median of 1.15)
  • GF Value™: NZ$1.55 vs. price of NZ$1.51 (2.6% below fair value)
  • GF Score™: 95/100 with 6 warning signs
  • Industry Position: 126.5% above the Capital Markets median (#300 of 327)

No single metric tells the full story. See the NZSE:NZX stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.

NZX Business Description

Other Exchanges NZSTF:USA5NZ:Germany
Address 11 Cable Street, Level 2, NZX Centre, PO Box 2959, Wellington, NZL, 6011
NZX Ltd operates New Zealand's equity, debt, funds, derivatives and energy markets. To support the growth of its markets, it provides trading, clearing, settlement, depository, and information services for its customers. The company also owns Smart, New Zealand issuer of listed Exchange Traded Funds (ETFs); KiwiSaver, investment, superannuation and insurance provider SuperLife; and diversified fund manager QuayStreet Asset Management. Its segments include Markets, Funds Management (Smart), Wealth Technologies, and Corporate. It derives majority of the revenue from Markets segment which includes Capital Markets Origination, Secondary Markets, and Information Services.
95GF Score

Get the complete analysis for NZSE:NZX

Dividend Payout Ratio is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

NZ$1.51
Price
NZ$1.55
GF Value