• Normalised net profit after tax increased 3% to $468 million
• Normalised return on equity (ROE) was 11.6%
• Full-year ordinary dividend of 31.5 cents per share, fully franked, up 7% on last year

Challenger Ltd's FY26 Annual Review highlights the company's disciplined execution and strategic progress, positioning it well for long-term growth in Australia's evolving retirement system. The company reported a 3% increase in normalised net profit after tax to $468 million and normalised return on equity (ROE) at 11.6%. The capital position remained strong with over $1.1 billion in excess capital. The Board declared a full-year ordinary dividend of 31.5 cents per share, fully franked, up 7% on the previous year. Additionally, the company announced a special dividend of 1.5 cents per share and an additional $300 million on-market share buy-back. Strategic initiatives, including the proposed merger of Fidante with Channel Capital and the launch of innovative product solutions, are expected to drive future growth.