Aurizon (ASX:AZJ) launches $300 million buyback as profit increases

Company News

by Kathy Skantzos

Aurizon (ASX:AZJ) reports a 28 per cent increase in net profit to $605 million as the rail freight operator launches a $300 million buyback.

Its 2021 EBITDA forecast is between $830 million and $880 million, down slightly from $909 million in the 2020 financial year due to flat coal volumes.

The company's underlying net profit after tax increased 12 per cent to $531 million.

A 70 per cent franked dividend of 13.7 cents a share was declared to be paid on 21 September 2020.

Shares in Aurizon (ASX:AZJ) are trading 2.97 per cent lower at $4.42.

Kathy Skantzos

Finance News Network
Kathy presents the Market Outlook and ASX company news. She joined FNN in September 2017. She has been in print and online journalism for over 9 years. She also worked in corporate communications.