Dividend Update: Ausnet (ASX:AST) Slashes Dividends

  • November 11, 2020 02:46 PM AEDT
  • Team Kalkine

AusNet Services Limited (ASX:AST), on 11 November 2020, reported its half year results for the period ended 30 September 2020. The company announced that the first half post-tax profit has increased by 31.4% to reach to $225.7 million. Also, the firm declared a dividend of 4.75 cents, 40%, franked and payable on 17 December, indicating dividends at the upper end of the FY2021 dividend guidance range 9.0 - 9.5cp.

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The Victoria based supplier of electricity and gas and network operator AusNet Services, in its release mentioned that the six months ending 30 September continued to put forward a challenging operating environment with Victoria enduring various Covid-19 restrictions throughout the period. This has had an impact on the services.

However, the company foresees to deliver full year dividends of between 9 cps and 9.5 cps with 40% franking and to boost its regulated asset base by 2.5% every year to 2023-24.

Meanwhile, the company stock traded at $2.050, up 4.060%, with a market capitalisation of 7.39 billion at 12:24 PM AEDT.




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