Ironbark Capital reported a half-year profit after tax of $2.3 million, reflecting a 47% decrease from the previous year.
Investment revenue declined 50.1% to $3 million due to a reduction in unrealised gains to $400,000 from $4 million.
Ironbark declared a fully franked interim dividend of 1.1 cents per share, payable by March 27.
Ironbark continued its on-market share buy-back program, repurchasing 358,603 shares in the half-year period to manage share price volatility and leverage discounts to underlying net tangible assets.