Channel Infrastructure is today holding an Investor Day. Channel Infrastructure’s management team will present to investors and analysts on its strategy and current terminal business. Please find attached the presentation.
Today Channel Infrastructure reconfirmed its FY22 and FY23 guidance, as well announcing its Capital Allocation Framework, confirming its dividend policy of 60-70% of Free Cash Flow (being adjusted net cash generated from operations less maintenance capex). The first opportunity for a dividend is in March 2023, after the FY22 financial results.
Naomi James said: ”We are pleased to be presenting a deep dive into the benefits that come with our new more sustainable operating model and the growth opportunities that it opens up for Channel Infrastructure, including to support New Zealand’s fuel security and decarbonisation by using our highly-strategic assets and deliver long-term shareholder value”.
“Our long-term contracts with strong and stable cash flows mean we are expecting to return to dividends in 2023 while leaving cash available to deleverage as planned. We are also now better placed to invest in focused growth opportunities to drive shareholder value.”
“We also provide an update on the conversion project, which is tracking to plan, following the safe shut down of the refinery in March. I am proud that we were able to deliver this significant change safely, and within budget, which is testament to the hard work and dedication of our people.”
The presentation is now available on the Channel Infrastructure website and the delayed webcast of the presentations will be available on channelnz.com in the next few days.
- ENDS -
Authorised by:
Chris Bougen
General Counsel and Company Secretary
Investor Relations contact:
Anna Bonney
[email protected]
Media contact:
Laura Malcolm
[email protected]
+64 21 02363 297
The S&P/NZX 50 Index rose 97.07 points, or 0.8%, to 12,447.68.
Fletcher Building subsidiary Iplex Australia to cover 80% of repair costs.
The bus operator's net loss widened from $8m to $17m in the year to March 31.
To join your company account for BusinessDesk and enjoy full access, enter your email and we’ll send you details