Qube Holdings Limited (ASX: QUB)- Qube rockets as it pays special dividend out of $199.3 million profit

Qube Holdings Limited

Qube Holding limited (ASX: QUB) reported net profit after tax of $199.3 million, up 158% on prior year. EBITDA increased 63% to $413.2 million in fiscal year ended 30 June 2018.

However, after excluding non-cash and non-recurring items, the group posted underlying profit after tax of $122.8 million, an improvement of 6% on prior year results. Underlying revenue was $1.65 billion, up 9% in FY18.

Infrastructure and Property division Patrick has outperformed Qube’s expectation resulting to increase group’s market share, earnings and cashflows.

The company has declared final fully franked dividend of 2.8 cents per share which brought total FY18 dividend to 5 cents per share. The special dividend of 2 cents was also announced on the back of $61.6 million cashflow distributed by Patrick. Both the dividends are payable on 19 September. Earnings per share was 12.5 cps, up 131%.

Investors go bullish on Qube Holding Limited as company doubles the profit and pays special divided. As a result, QUB surged 8.66% to $2.760 on Thursday 23 August 2018.

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