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Thursday, July 9, 2020

Transurban : Reinstates Distribution Guidance at Lower Level | MarketScreener

By David Winning

SYDNEY–Toll road owner Transurban Ltd. said it would pay a distribution of 16 Australian cents per security for the six months through June, a reduced payout compared to… | June 21, 2020
Continue reading on marketscreener.com

By David Winning

SYDNEY–Toll road owner Transurban Ltd. said it would pay a distribution of 16 Australian cents per security (US$0.11) for the six months through June, a reduced payout compared to guidance provided before the coronavirus pandemic.

Transurban had originally forecast a second-half distribution of 31 Australian cents per security, but pulled that guidance at the end of March after government measures to contain the spreading coronavirus drove a steep drop in traffic on its toll roads.

On Monday, Transurban said traffic was recovering well in Australia as restrictions were eased due to low infection rates locally. In contrast, traffic in the Greater Washington area in the U.S. is returning at a slower rate.

Transurban said it expected distributions in the 2021 fiscal year to be in line with cash flow, excluding capital releases.

 

Write to David Winning at david.winning@wsj.com

 
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