Sequoia defers interim dividend amid InterPrac issues

Mike Taylor

Managing Editor and Publisher

14 May 2026

Under scrutiny Sequoia Financial Group has announced a delayed payment date for its interim dividend, citing issues around continuing legal questions involving the now-aborted sale of its financial planning business, InterPrac.

Sequoia has announced to the Australian Securities Exchange (ASX) that the revised date for payment of the dividend had moved from 15 May to 3 June, after previously deferring payment pending the outcome of the proposed sale of InterPrac.

It said that following the Australian Securities and Investments Commission (ASIC) commencing proceedings seeking the appointment of a receiver for the limited purpose of preparing a report regarding the fairness and reasonableness of the proposed scale, the company had determined it was unable to proceed with the sale and notified the purchaser of termination of the Agreement, as announced on 1 May.

Sequoia’s announcement said that the Federal Court had adjourned the case management hearing on 7 May to allow the parties an opportunity to confer regarding the status of the Agreement “die to the Purchaser disputing the termination of the Agreement by the Seller”.

It said the next case management hearing is scheduled for 29 May, and that ASIC has subsequently requested the parties confirm the status of the Agreement by 18 May or otherwise seek declarations from the Court regarding the effect of the purported termination of the status of the Agreement.

The announcement said Sequoia’s position remained that the Agreement has been terminated.

“However, consistent with the Company’s prior disclosures and to continue cooperating constructive with ASIC and the Court process, the Directors have determined it is appropriate to further defer payment of the interim dividend pending treater certainty regarding the status of the Agreement,” it said.

“All other details relating to the interim dividend remain unchanged. The dividend payment will be paid regardless of the outcome of the Agreement.”