Business
AGL pulls the dividend lever – The Australian Financial Review
The energy provider warned the market several months ago it was facing headwinds, but the message did not seem to get through.
AGL can make promises on dividends two years in advance simply because of the stability of its retail energy business and its energy supply contracts.
Its net operating cash flow in the year to June jumped 35 per cent to $2.15 billion. The median forecast of analysts is that net operating cash flow will fall to $1.6 billion in 2021.
AGL shares fell sharply on Thursday on the back of Redman’s underlying net profit guidance, which is a range of $560 million to $660 million for 2021. This means a…
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