A month ago the toll road operator TCL upgraded guidance for the current FY, the company now expects distributions for FY23 of 58cps, up 1c from prior guidance but up 41.5% from FY22. The upgrade translates to an expected final dividend of 31.5cps with management saying traffic numbers continue to show strong momentum. Earnings will also be supported by better-than-expected financing outcomes however the lack of follow-through on the upside by the stock suggests the news was largely expected.
- We recently took profit on our TCL position in our Active Income Portfolio but we would be interested in the stock again at lower levels.
MM is neutral toward TCL
Add To Hit List
