TCL +1.55%: not a lot of new news coming from the toll road operator today with revenue of $1.16bn dropping down to EBITDA of $805m, both inline with expectations while they will pay a 15cps interim distribution. Transurban reaffirmed guidance for an annual distribution in line with free cash excluding capital releases, while continuing to invest in growth projects. In October, a Transurban-led consortium took full control of the WestConnex toll road in Sydney after reaching financial close on a deal to acquire the New South Wales state government’s 49% stake for $11.1 billion.
MM owns TCL in the Income Portfolio
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