Transurban Div Slowly Heading to Pre-Covid Levels

Toll road giant Transurban has revealed a final distribution of 21.5 cents a security for the six months to June 30, up sharply from both the December, 2020 interim and the June 29, final for 2019-20.

The company paid an interim for last December of 15 cents a security and a final in June a year ago of 16 cents a security.

Transurban said the final would be made up of a 20.5 cents a security partially franked distribution from the Transurban Holding Trust and one cent a security fully franked from Transurban Holdings.

The 21.5 cents a share is down sharply on the June 2019 (non-Covid) payout of 30 cents a security.

That will take the full distribution for 2020-21 to 36.5 cents a security, down on 47 cents paid for 2019-20 (which was partly impacted by Covid and the lockdowns, especially in Melbourne).

Of the 36.5 cents, one cent is fully franked.

In the interim announced in February, Transurban did not issue any guidance for the final half or the full year payout except to say that it was “expected to be in line with Free Cash, excluding Capital Releases.”

About Glenn Dyer

Glenn Dyer has been a finance journalist and TV producer for more than 40 years. He has worked at Maxwell Newton Publications, Queensland Newspapers, AAP, The Australian Financial Review, The Nine Network and Crikey.

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