Small-cap mortgaging broking group Australian Financial Group Ltd (ASX: AFG) handed down solid FY18 results today with its balance sheet showing a debt-free position with NPAT growth of 10.4% to $33.3 million.
Australian Financial Group has met some challenges since its listing, including property price contractions, regulatory changes and increased scrutiny by regulators in the volatile lending sector, but with home loan settlements of $3.2 billion for FY18 and a loan book of $145.4 billion it has certainly weathered the storm.
The company has a dividend yield of around 14% at today's price with its total dividends for FY18 at 22.4c per share, however, this return was significantly inflated by a 12c special dividend paid on March 18.
Elsewhere in the sector Mortgage Choice Limited (ASX: MOC) handed down mixed results earlier this week and its share price is currently in the red – down to $1.78 at the time of writing.
Genworth Mortgage Insurance Australia (ASX: GMA) is not due to report this earnings season, but its shares are also down 0.7% at the time of writing to $2.69.
