Infratil accumulating cash faster than it can invest

Infratil accumulating cash faster than it can invest
CEO Jason Boyes says he is about to announce a new Australian energy venture. (Image: NZME)
Jenny Ruth
Infratil’s gearing crept a little higher in its latest first half, but the company still has $1.43 billion in available capital and its gearing is still well shy of its 30% target at 13.9%.But it has another $614 million of net proceeds from the Vodafone mobile towers transaction to come in the current quarter.So, it’s unsurprising that it isn’t operating the dividend reinvestment plan for the first-half dividend and it’s going to allow $100m of bonds to mature on Dec 15 without replacing them.Gearing was up from 9.4% in...

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