Access Financial Services Limited will the end of March pay out $85.1 million to shareholders, through a 31-cents-a-share dividend payment that will substantially increase the proportion of profit the firm passes on to its owners.

The payout represents 81 per cent of the $104.9-million net profit made for the first nine months of 2010, but the last quarter of the year typically brings in the largest portion of annual profit (46 per cent in 2009 and 47 per cent in 2008).

Even if the firm repeats profit performance of the last two years and close 2010 with a net profit of $197 million the dividend payment would equate to 43 per cent of 2010’s net profit.

What’s more, the payment represents a 6.2 per cent return to shareholders at current share prices (the share closed trading at $5 yesterday).

Last March, Access paid shareholders $13.7 million, which translated to just over 20 per cent of the 2009 net profit.

In its IPO, Access had indicated that its board anticipated a payment of an annual dividend of not less than 20 per cent of the annual after tax profits “where such profits are available for distribution, subject to the Company’s need for reinvestment of some or all of its profits from time to time in order to finance its growth and development.”

Yesterday Access CEO, Marcus James told the Business Observer that the most recent payment did not reflect changes in dividend policy.

“Our business generates cash,” said James, “and when we have it to share with shareholders we take the opportunity to pay dividends.”