AUS
NZ
UK
CA
USA
IND
Recently, Fortescue Metals Groupâs (ASX:FMG) Chairman as well as Founder named Andrew Forrest AO shook hands with the Commonwealth Scientific and Industrial Research Organisation or CSIROâs Chief Executive Officer or CEO named Dr. Larry Marshall and made an announcement regarding the partnership to reap the benefits of the economic opportunities which are related to the hydrogen. This partnership would also support the development with respect to Australiaâs competitive hydrogen industry. The collaboration between both the companies consist of the five-year agreement which focuses on funding as well as supporting selected technologies of CSIRO and which are in the hydrogen space. The initial contract would be concentrating on the metal membrane technology of CSIRO which would be aiding in making the hydrogen transportation economically viable and, thus, would help in realizing the advantages in regard to the low emission fuel.
The top management of Fortescue is of the view that it is still the initial stages of the energy revolution and that the company plans to lead this opportunity which happens to be very rare. They also reflected positive views for the partnership with the CSIRO. The company is looking forward to realizing the benefits of the hydrogen. According to the management, with the combination of the capabilities of CSIRO with the FMGâs ability to quickly develop the new technologies, the company would be able to establish the position with respect to the global hydrogen industry. They also stated that there is an opportunity in the export market in regard to the hydrogen and they also has plans to collaborate with the third parties so that the leadership of Australia with respect to the new energy economy is ensured.
In addition to the favourable views regarding the partnership as given by the chief executive officer or CEO of Fortescue Metals Group, she also threw some light on the previous initiatives which have been undertaken by the company. The company had earlier converted the Solomon Power Station to gas generation from diesel. The company had also developed Fortescue River Gas Pipeline. Recently, the company had also published the details of the Annual General Meeting or AGM on the Australian Securities Exchange or ASX website. In the presentation, the company had stated that in FY 2019, they are planning to make capital investments amounting to US$1.2 billion. They have also provided information about the dividend policy. In FY 2019, the company would be maintaining the payout ratio in the range of 50-80% of the NPAT or Net Profit After Tax.
On November 23, 2018, Fortescue Metals Group has been witnessing the favourable momentum. The stock, at the time of writing, is trading at A$4.00 5per share which implies a rise of A$0.005 per share or 0.125%. The stock has an annual dividend yield of 5.75%, and the company has a market capitalization amounting to $12.45 billion.
The stock price of Fortescue Metals Group is trading towards the lower range.
Disclaimer
This website is a service of Kalkine Media Pty. Ltd. A.C.N. 629 651 672. The website has been prepared for informational purposes only and is not intended to be used as a complete source of information on any particular company. Kalkine Media does not in any way endorse or recommend individuals, products or services that may be discussed on this site. Our publications are NOT a solicitation or recommendation to buy, sell or hold. We are neither licensed nor qualified to provide investment advice.
Â
Â
