APA’s Share Price Rises on Dividend Distribution

Australia’s largest natural gas infrastructure business, APA Group [ASX:APA] announced the estimated final distribution of 25.5 cents per security for the six months ending 30 June 2019, pushing their share price 1.09% higher at $11.58.

APA has a market cap of around 13.5 billion, and a dividend yield of 3.97%.

Related: Do you have our #1 income earning stock in your portfolio yet? Visit the infographic on our website here to see what it is (it might surprise you).

Details of APA’s Dividend payout

APA’s dividend payment of ordinary shares will take place Wednesday 11 September of this year, which will be distributed in cash to all APA security holders.

Based on APA’s estimate of 25.5 cents, with the interim distribution of 21.5 cent per security paid in March 2019, it brings the total of 47.0 cents per security.

That’s 0.5 cents per security above guidance and a 4.4% increase from the previous year.

The true value of the final distribution and its tax-deferred status is set to be confirmed after the release of the financial results on 21 August 2019.

APA’s share price growth outlook

Over the last six months of trading APA’s share price has been steadily rising. And while past performance doesn’t ensure future performance, it’s important to note a stocks gradual increase overtime.

APA’s acting CEO, Rob Wheals, said: ‘the success of commissioning all but one of our most recent growth projects in FY2019 has given us the confidence to recommend this increase in final distribution for FY2019’.

More to come.

Regards,

Ryan Clarkson-Ledward,
For Money Morning

PS: In this just released report, Matt Hibbard shows you his top five dividend picks for 2019. Click here to claim your copy today.


Ryan Clarkson-Ledward is an Editor at Money Morning.

Ryan holds degrees in both communication and international business. He helps bring Money Morning readers the latest market updates, both locally and abroad. Ryan tackles all the issues investors need to know about that the mainstream media neglects.

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