Image Source: © Pvl | Megapixl.com
- Origin Energy, warning about ‘uncertain’ market conditions, has reported a statutory loss of AU$1,429 million in FY2022.
- The company has, however, delivered an underlying profit of AU$407 million, while underlying EBITDA reached AU$2,114 million in the given period.
- The company has determined a partly franked dividend of 16.5 cents per share, payable in September 2022.
Share price of Origin Energy Limited (ASX:ORG) headed south on Thursday (18 August 2022) after the company released its full-year results for 2022 full year (FY22). The energy business operator also shared the outlook for FY23.
At 11:32 AM AEST, Origin shares were spotted trading 5.60% lower from the previous close at AU$5.72 per share. Meanwhile, the ASX 200 Utilities (INDEXASX:XUJ) was 2.05% down to 7,793.70 at 11:56 AM AEST.
ORG share price, has gained 1.24% in last six months on the ASX while, during last one year, it has increased 30.89%.
Image source: © Photobyphotoboy | Megapixl.com
Origin Energy announced a final dividend of 16.5 cents per share, taking the full-year dividend to 29 cents per share. Reportedly, the shares are 75% franked. Considering the capital management plan of the organisation, Origin’s board has suspended the dividend reinvestment plan.
The tentative date of dividend distribution is 30 September 2022, as per today’s release.
Origin said there is uncertainty about the potential earning outcomes in the coming financial year (FY23). The company expects a surge in the underlying earnings, driven by the gas business earnings. The electricity gross profit is forecasted to remain suppressed.
As per the ASX announcement, the company would continuously assess the business outlook and would share the same when the uncertainty reduces.
The expected Australia Pacific LNG production is 680 to 710 PJ in FY23.
In FY24, the company expects a further increase in underlying earnings. The growth scale will depend upon the energy and fuel prices.
The content, including but not limited to any articles, news, quotes, information, data, text, reports, ratings, opinions, images, photos, graphics, graphs, charts, animations and video (Content) is a service of Kalkine Media Pty Ltd (Kalkine Media, we or us), ACN 629 651 672 and is available for personal and