Transurban Group
(ASX:TCL) has reported a 50 per cent fall in its fiscal 2012 net profit but forecast it will pay a higher dividend in fiscal 2013.
The toll roads operator’s net profit fell to $58.6 million in fiscal 2012, dragged down by a $138 million write down on one of its US assets the Pochahontas Parkway 895 toll road in Virginia.
Proportionate earnings grew 9.1 per cent in the same period, boosted by revenue growth from its CityLink toll road in Melbourne.
A final dividend of 15 cents per share has been declared, bringing the full year payout to 29.5 cents this year.
Transurban expects to pay dividends of 31 cents next year.
