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Woodside Petroleum Limited (ASX:WPL) is in the business of energy generation with global operations. They are the pioneers in the liquified natural gas (LNG) industry in Australia and the largest natural gas producer in the same region.
On 4th March 2019, Woodside announced that they had received a notice from Australasian Centre for Corporate Responsibility (ACCR) which stated a number of resolutions that must be taken up by the company in their annual general meeting (AGM) which is scheduled to be held on 2nd May 2019.
The resolutions that need to be addressed at the AGM are as follows:
- The board must make disclosures about alignment with the Paris Climate Agreement and emissions targets.
- An amendment should be made to Woodsideâs constitution to enable advisory resolutions.
- A request to review the Companyâs position.
- oversight and processes relating to public policy advocacy on climate change and energy, including through industry associations.
Woodside stated that it is committed to being part of the solution wherein they will be able to face the challenges of reducing emissions and providing safe, clean, affordable and reliable energy. In meeting the worldâs energy needs and in reducing greenhouse gas emissions globally, natural gas will continue to play an important role.
On 28th February 2019, Woodside announced its dividend for the financial reporting period ending 31st December 2018. The total dividend (fully franked) announced was US$0.91 per share which is equivalent of A$1.27 which will be payable on 20th March 2019. The ex-date and the record date for the dividend was 22nd February 2019 and 25th February 2019, respectively.
On 22nd February 2019, Woodside issued a notice regarding Change of Directorâs Interest. Director Peter John COLEMAN acquired 128,296 ordinary fully paid shares on 19th February 2019 at an average price of A$35.58 per share.
On 14th February 2019, the company announced its full-year 2018 results wherein it posted a net profit after tax (NPAT) of $1,364 million which is an increase of 28% from the previous year which stood at $1,069 million, driven by robust operational performance throughout 2018 and improved market conditions. The operating revenue of the company has also increased significantly from $3,975 in 2017 to $5,240 in 2018, an increase of more than 31%. EBITDA performance also showed some strength as it increased from $2918 in 2017 to $3814 in 2018, again a healthy increase of more than 30%. However, the net finance cost also has risen from $84 million in 2017 to $183 million in 2018.
After the dayâs activity as of 4th March 2019, the stock closed down by 0.2% at A$35.58 as compared to the previous dayâs closing of A$35.58. Woodside has provided the YTD return of 16.96%.
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