Transurban Group (ASX:TCL) Announces Six-Month Distribution Details
Interim Distribution Announcement
Transurban Group (ASX:TCL) has declared an interim distribution of 32.0 cents per stapled security for the six months ending 31 December 2024. This distribution will be paid from Transurban Holding Trust and its controlled entities. It is important to note that Transurban Holdings Limited and Transurban International Limited will not be distributing dividends for this period.
The tax status of the distributions for FY25 will be confirmed in Tax Statements issued with the final distribution in August 2025.
Distribution Reinvestment Plan
Transurban’s Distribution Reinvestment Plan (DRP) will be available for this distribution, with no discount applied to the price of stapled securities issued under the DRP. The pricing period will commence on 7 January 2025, covering ten trading days.
Key dates include the ex-distribution date on 30 December 2024, the record date on 31 December 2024, and the final date for DRP elections on 2 January 2025. Payments and DRP allotments will occur on 25 February 2025.
Future Outlook and Traffic Performance
Transurban reaffirms its FY25 distribution guidance at 65.0 cents per stapled security, which includes the current distribution. The company’s average daily traffic (ADT) for the December quarter, compared to the previous period, shows an overall increase of 3.6%. Key traffic growth is reported as Sydney up 4.7%, Melbourne up 2.0%, Brisbane up 3.0%, and North America up 6.4%.
CEO of Transurban Group, [insert CEO’s full name], commented on the positive ADT growth, noting that increased economic activity in North America significantly contributed to these results. He also acknowledged the ongoing impact of construction in Sydney and Melbourne on traffic numbers.
Transurban is actively pursuing opportunities in new markets and is committed to working with the NSW Government on toll reform, aiming for beneficial outcomes for Sydney’s motorists and the region’s productivity. The emphasis remains on negotiating outcomes that respect existing contracts.
Motley Fool contributor Abbie Stokes has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has positions in and has recommended Transurban Group. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
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