Sydney, Feb 19, 2026, 18:32 AEDT — Market shut its doors for the day.
The Lottery Corporation Limited finished Thursday at A$5.58, up 1.1%. That adds to hefty gains after earnings, with the stock now roughly 8% higher across two sessions. (StockAnalysis)
This is coming into focus now as investors pick through Australia’s reporting season, looking for the so-called “defensive” earners. Lottery Corp is pitching itself on reliable cash flow and a dependable payout. In its half-year briefing, the company pointed out that the December half was its worst period for jackpot outcomes since the 2022 demerger, which shaved A$400 million off turnover (game sales)—despite digital now making up 41.2% of lottery turnover. (Market Index Data API)
The company reported revenue of A$1.815 billion for the six months ended Dec. 31, a 2% increase, but net profit after tax dipped 1.4% to A$173.3 million. An interim dividend of 8.0 Australian cents per share was declared, fully franked, with payment scheduled for March 26. (Market Index Data API)
Chief executive Wayne Pickup pointed to the first half, noting, “This was evidenced by our ability to maintain the dividend in a historically low jackpot environment.” For FY26, the company is projecting operating expenses between A$310 million and A$320 million, with capital expenditure expected in the A$90 million to A$100 million range. The stock is set to trade ex-dividend on Feb. 25. (Market Index Data API)
“A quiet price rise can matter more than a record jackpot,” Graham Witcomb at Intelligent Investor said, flagging that softer Powerball and Oz Lotto jackpots during the half dented turnover. (Intelligent Investor)
Stocks across the board held their ground, with the S&P/ASX 200 climbing 0.88% by Thursday’s close. (Market Index)
Lottery Corp’s story keeps circling familiar themes: jackpot streaks that jolt ticket sales, how well those base-game price hikes hold up, and if digital growth stays strong even when there’s no giant prize drawing in the crowds.
The recent two-day bounce in the stock doesn’t erase a clearer risk on the downside. Should jackpots remain muted or expenses outpace projections, that “reliable dividend” starts to look shaky—particularly with a payout ratio already pressing against earnings.
