The a2 Milk Company Ltd (a2m) Logo

The a2 Milk Company Ltd (A2M)

___:___ · Consumer Defensive
ASX Delayed
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VOLUME
DIV YIELD
PE RATIO
1 YR RETURN
52 WEEK RANGE
Overview
Financials
News
Announcements

A2M ASX Chart

Snapshot

The a2 Milk Company (A2M) is engaged in the sale of branded products in targeted markets made with milk naturally containing only A2-type protein and no A1 protein.

Share Price Activity (ASX)

Last (Price)
Change 0.00 (0.00)
Bid / Ask -
Volume
Volume (4w avg)
Turnover
Open
Day Range -
VWAP
Prev Close
Last Trade

Performance

1 Week
1 Month
2026 YTD
1 Year
vs Sector (1yr) -16.71%
vs ASX 200 (1yr) -9.38%

Size

Market Cap Question Mark Icon
Excludes mandatory escrowed shares and foreign shares.
ASX Rank 115 of 2,335
Sector Rank 4 of 102

Key Fundamentals

Shares Issued
Sector Consumer Defensive
Similar Companies CBO / BGA / SGLLV
EPS $0.307
DPS $0.1683
Book Value Per Share $1.563

Broker Consensus

A2M is not covered by a major broker, or data from most recent compilation was omitted due to not meeting QA guidelines.

Announcements

Price Sensitive only

Corporate Overview

Corporate Details

Head Office Auckland New Zealand 1010
Website www.thea2milkcompany.com
Registry MUFG Corporate Markets
Auditor Ernst & Young
Date Listed 31 Mar 2015

Upcoming Calendar (Forecasted)

Date Event
08/07/2026 Div Ex Date
09/07/2026 Books Close
24/07/2026 Div Pay Date
17/08/2026 Report (Prelim)

Former Company Names

  • The a2 Milk Company Ltd has no former company names.

Dividend History

DPS and Yield calculations use the Pay Date.

Ex-Date Amount Franking Gross Type Payable
08/07/2026 $0.2876 100% $0.4109 Interim 24/07/2026
19/03/2026 $0.0815 100% $0.1165 Interim 02/04/2026
18/09/2025 $0.0868 100% $0.1239 Final 03/10/2025
20/03/2025 $0.0657 100% $0.0938 Interim 04/04/2025

See Upcoming Dividends for all ASX companies.

Key Data
DPS(TTM) $0.1683
Gross DPS(TTM) $0.2404
Dividend yield
Gross yield
Payout Ratio 69%
DRP No
DRP Features -

Directors & Management

Directors

Management

Director Transactions

A2M directors must report any change in shareholding to the ASX within 5 business days.

See Director Transactions for all ASX companies.

Date Director Type Amount Price Value Notes
05/03/26 Philippa (Pip) Greenwood Sell +287 $11.79 ($3,383) On-market trade
26/02/26 David Bortolussi Sell +394,930 $11.43 ($4,514,049) On-market trade
08/12/25 David Bortolussi Issued 324,606 $9.06 $2,940,930 Issue of securities
26/11/25 David Bortolussi Sell +245,453 $10.89 ($2,672,983) On-market trade
26/09/25 Kathryn(Kate) Mitchell Buy +2,184 $9.50 $20,748 On-market trade
24/09/25 Kathryn(Kate) Mitchell Buy +816 $9.50 $7,752 On-market trade
23/09/25 Kathryn(Kate) Mitchell Buy +3,000 $9.45 $28,350 On-market trade
15/09/25 David Bortolussi Sell +242,345 $10.25 ($2,484,036) On-market trade
26/08/25 David Bortolussi Buy +484,691 $9.17 $4,444,616 Conversion of securities
26/08/25 David Bortolussi Exercise 484,691 $9.17 $4,444,616 Conversion of securities
26/08/25 David Bortolussi Expiry 16,489 $9.17 $151,204 As advised by the company
21/08/25 Kathryn(Kate) Mitchell Buy +2,500 $9.62 $24,050 On-market trade
20/08/25 Kathryn(Kate) Mitchell Buy +5,500 $9.41 $51,755 On-market trade
09/12/24 David Bortolussi Issued 538,336 $5.69 $3,063,131 Issue of securities
30/08/24 David Bortolussi Buy +490,906 $5.59 $2,744,164 Conversion of securities
30/08/24 David Bortolussi Exercise 490,906 $5.59 $2,744,164 Conversion of securities
15/12/23 David Bortolussi Issued 690,066 $4.05 $2,794,767 Issue of securities
30/08/23 David Bortolussi Buy +478,577 $4.70 $2,249,311 Conversion of securities
30/08/23 David Bortolussi Exercise 478,577 $4.70 $2,249,311 Conversion of securities
02/02/23 David Bortolussi Buy +155,641 $6.92 $1,077,035 Conversion of securities
02/02/23 David Bortolussi Exercise 155,641 $6.92 $1,077,035 Conversion of securities
29/11/22 Philippa (Pip) Greenwood Buy +30,000 $6.60 $197,905 On-market trade
30/09/22 David Bortolussi Issued 501,180 $5.40 $2,706,372 Issue of securities
21/02/22 David Bortolussi Buy +155,642 $5.89 $916,731 Conversion of securities
21/02/22 David Bortolussi Exercise 155,642 $5.89 $916,731 Conversion of securities
22/10/21 David Bortolussi Issued 969,483 $6.89 $6,679,737 Issue of securities
24/08/20 David Hearn Sell +250,000 $20.31 ($5,077,500) On-market trade
28/04/20 David Hearn Sell +1,614,143 $19.59 ($31,621,061) On-market trade
24/04/20 David Hearn Sell +280,857 $19.78 ($5,555,351) On-market trade
24/04/20 David Hearn Buy +3,100,000 $0.63 $1,953,000 Exercise of options
24/04/20 David Hearn Exercise 3,100,000 $0.63 $1,953,000 Exercise of options
25/11/19 David Hearn Sell +100,000 $14.83 ($1,483,010) On-market trade
25/11/19 Carla Hrdlicka Sell +146,684 $14.04 ($2,059,062) On-market trade
25/11/19 David Hearn Buy +100,000 $0.63 $63,000 Exercise of options
25/11/19 David Hearn Exercise 100,000 $0.63 $63,000 Exercise of options
19/11/19 Carla Hrdlicka Issued 164,312 $13.37 $2,196,851 Issue of securities
25/02/19 David Hearn Buy +100,000 $0.63 $63,000 Exercise of options
25/02/19 David Hearn Exercise 100,000 $0.63 $63,000 Exercise of options
25/02/19 David Hearn Sell +100,000 $14.55 ($1,454,658) On-market trade
21/02/19 Peter Hinton Sell +325,000 $14.00 ($4,550,000) Off-market trade
20/09/18 Carla Hrdlicka Sell +178,616 $11.29 ($2,016,646) On-market trade
18/09/18 Carla Hrdlicka Sell +178,616 $11.08 ($1,978,494) On-market trade
16/07/18 Geoffrey Babidge Transfer 2,500,000 $10.28 $25,700,000 Off-market transfer
09/03/18 Geoffrey Babidge Buy +2,000,000 $0.634 $1,267,200 Conversion of securities
26/02/18 Geoffrey Babidge Sell +200,000 $12.82 ($2,563,100) On-market trade
23/02/18 David Hearn Sell +200,000 $12.68 ($2,536,820) On-market trade
23/02/18 David Hearn Exercise 200,000 $0.63 $126,000 Exercise of options
23/02/18 David Hearn Buy +200,000 $0.63 $126,000 Exercise of options
23/02/18 Peter Hinton Sell +80,000 $12.96 ($1,036,693) On-market trade
22/02/18 Geoffrey Babidge Sell +1,000,000 $13.28 ($13,277,676) On-market trade
22/02/18 Geoffrey Babidge Buy +2,000,000 $12.10 $24,200,000 As advised by the company
24/08/17 Geoffrey Babidge Sell +1,000,000 $5.03 ($5,030,000) As advised by the company
24/08/17 Peter Hinton Sell +240,000 $5.40 ($1,296,000) Off-market trade
24/08/17 Peter Hinton Sell +35,000 $5.23 ($183,050) On-market trade
19/06/17 Jesse Wu Buy +27,000 $3.89 $105,041 On-market trade
10/05/17 Richard Grice Buy +15,000 $3.65 $54,750 On-market trade
08/05/17 Geoffrey Babidge Sell +600,000 $3.51 ($2,108,349) On-market trade
20/02/17 Geoffrey Babidge Sell +900,000 $2.49 ($2,242,060) On-market trade
17/02/17 David Hearn Buy +1,000,000 $0.63 $630,000 Exercise of options
17/02/17 David Hearn Sell +1,000,000 $0.249 ($248,732) On-market trade
31/08/16 Warwick Every-Burns Buy +100,000 $1.90 $189,936 On-market trade
25/08/16 Geoffrey Babidge Sell +1,000,000 $2.13 ($2,125,838) As advised by the company
Show All

Director Interests

The current holdings of A2M directors.

Director Last Notice Direct Shares Indirect Shares Options Convertibles
Philippa (Pip) Greenwood 05/03/2026 0 29,713 N/A N/A
David Bortolussi 26/02/2026 N/A 882,729 N/A N/A
Kathryn(Kate) Mitchell 26/09/2025 N/A 15,000 N/A N/A
Grant Dempsey 01/09/2025 0 N/A N/A N/A
Lain Jager 01/12/2024 0 N/A N/A N/A
Antonio (Tonet) Rivera 01/11/2024 0 N/A N/A N/A
Sandra Yu N/A N/A N/A N/A N/A

Shareholder Info

Top 20 Shareholders
About the Data

Data supplied by Morningstar and accurate on Aug 1, 2025.

It's not possible to publish a real-time Top 20 Shareholder list. Companies are not obliged to report this data (with the exception of Substantial Shareholders above 5%). If a company chooses to publish the data, it's usually once a year in their Annual Report.

All data is manually compiled so there might be a delay between the Annual Report being published and the data appearing on Market Index (<7 days for ASX 300 and up to 30 days for micro-caps).

Name Shares Capital
HSBC Custody Nominees (Australia) Limited 169,027,427 23.35%
Citicorp Nominees Pty Limited 88,042,263 12.16%
J P Morgan Nominees Australia Pty Limited 87,912,349 12.14%
BNP Paribas Nominees NZ Limited Bpss40 39,982,769 5.52%
Accident Compensation Corporation 19,325,269 2.67%
TEA Custodians Limited 18,622,668 2.57%
HSBC Nominees (New Zealand) Limited 17,837,054 2.46%
New Zealand Superannuation Fund Nominees Limited 13,448,326 1.86%
National Nominees Limited 12,571,092 1.74%
New Zealand Depository Nominee 11,915,919 1.65%
Citibank Nominees (NZ) Ltd 10,629,794 1.47%
BNP Paribas Noms Pty Ltd 10,287,073 1.42%
BNP Paribas Nominees Pty Ltd 9,139,860 1.26%
Public Trust 8,352,117 1.15%
Premier Nominees Limited 7,744,463 1.07%
New Zealand Permanent Trustees Limited 6,003,926 0.83%
UBS Nominees Pty Ltd 5,936,820 0.82%
JBWere (NZ) Nominees Limited 5,815,699 0.80%
Pt Booster Investments Nominees Limited 5,688,233 0.79%
HSBC Custody Nominees (Australia) Limited i 5,169,658 0.71%

Shareholder Distribution

As reported in the most recent Annual Report.

Holding Size 1 - 1,000 1,001 - 5,000 5,001 - 10,000 10,001 - 100,000 100,001+ Total
No. of Shareholders 38,683 12,764 2,389 1,662 124 55,622

Substantial Shareholders

A substantial shareholder is a person or entity that owns 5% or more of the voting shares in a company. Shares can be held through multiple entities, so the Substantial Shareholders list differs from the Top 20 Shareholders list.

Shareholding changes less than 1% do not require notification to the market. When all “Last Notice” dates are identical, it suggests that no (or minimal) change has occurred since the most recent Annual Report.

Note: If a substantial shareholder's stake drops below 5%, the "Shareholders Selling" field shows full ownership as sold and sets "New %" to zero, even if they continue to hold shares under the limit.

Name Last Notice Total Shares Shares Held (%)
Paradice Investment Management Pty Ltd 14/05/2026 47,372,502 6.53
J.P. Morgan Chase & Co. and its affiliates 02/06/2026 45,159,220 6.23
FirstCape Group Limited 17/06/2026 36,893,667 5.09
The Vanguard Group,Inc 19/06/2026 45,934,205 6.33
Ausbil Investment Management Limited 12/06/2026 43,911,239 6.05
UBS Group AG and its related bodies corporate 22/06/2026 38,649,243 5.33

Shareholders Buying

12 month transaction history compiled from ASX announcements.

Date Name Bought Previous % New %
22-06-26 UBS Group AG and its related bodies corporate 38,649,243 -- 5.33
19-06-26 The Vanguard Group,Inc 9,775,186 5.00 6.33
17-06-26 FirstCape Group Limited 36,893,667 -- 5.09
12-06-26 Ausbil Investment Management Limited 7,281,759 5.05 6.05
02-06-26 J.P. Morgan Chase & Co. and its affiliates 7,886,916 5.14 6.23
14-05-26 Paradice Investment Management Pty Ltd 8,065,087 5.42 6.53
07-05-26 J.P. Morgan Chase & Co. and its affiliates 37,272,304 -- 5.14
23-04-26 Paradice Investment Management Pty Ltd 39,307,415 -- 5.42
21-04-26 J P Morgan Chase and Co 36,997,120 -- 5.10
20-02-26 Ausbil Investment Management Limited 36,629,480 -- 5.05
16-02-26 Alphinity Investment Management Pty Ltd 36,389,519 -- 5.02
20-11-25 Challenger Limited 36,801,634 -- 5.07
25-08-25 Challenger Limited 36,451,098 -- 5.03
21-08-25 Challenger Limited 36,476,524 -- 5.04

Shareholders Selling

12 month transaction history compiled from ASX announcements.

Date Name Sold Previous % New %
22-04-26 J P Morgan Chase and Co 36,997,120 5.10 --
17-04-26 Challenger Limited 36,801,634 5.07 --
15-04-26 Alphinity Investment Management Pty Ltd 36,389,519 5.02 --
06-02-26 Perpetual Limited and subsidiaries 42,242,084 5.83 --
29-09-25 Challenger Limited 36,451,098 5.03 --
22-08-25 Challenger Limited 36,476,524 5.04 --

Historical Data

Share Price History

Date Close Change %Chg Open High Low Volume Turnover

Historical Data

Year Closing Price Last Trade
2025 $8.01 30 June
2024 $6.77 28 June
2023 $4.89 30 June
2022 $4.39 30 June
2021 $6.00 30 June
2020 $18.66 30 June
2019 $13.85 28 June
2018 $10.52 29 June
2017 $3.76 30 June
2016 $1.75 30 June
2015 $0.64 30 June
A2M Historical Price Data (CSV)
Up to 20 years of EOD share price history

Important note:

All year-end and CSV data is "as traded on the day" and ignores corporate actions (e.g. share splits)

Market Index, ASX and Morningstar Logos

All data on this page is supplied by the ASX, Morningstar and Market Index. Read the disclaimer.