Business
AGL gets ‘first strike’ as investors revolt on pay – The Australian Financial Review
Investors have objected to remuneration at the large electricity and gas supplier amid broader dissatisfaction across the market on pay.
Mr Hunt said the rejection was “disappointing” and said AGL would consider shareholder feedback in a further review of the remuneration structure.
The vote comes after AGL posted a 22 per cent drop in underlying profit last year to $816 million, weighed down by a major outage of its Loy Yang A coal-fired power plant in Victoria, lower wholesale power prices and higher gas costs.
Mr Hunt reconfirmed the profit guidance given in August of a further drop in underlying profit in 2020-21 to between…
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