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The Transurban Group share price just hit another all time high

The Transurban Group (ASX: TCL) share price has hit another all time high, trading as high as $12.91.

This means the toll road operator’s shares have provided shareholders with a year-to-date return of almost 25%.

Transurban is the owner of leading toll roads along Australia’s east coast, from Melbourne to Brisbane, and in Virginia, USA. Its toll roads benefit from population growth, road improvements and annual increases in toll prices.

In May this year the company announced a 11.3% jump in toll revenue to $502 million for the quarter ending March 31.

Transurban shares are not exactly cheap, but they do offer investors a safe, reliable and growing dividend yield of around 4%. In this low interest rate environment, especially when compared to the RBA’s low cash rate, that’s an attractive alternative to term deposits.

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Motley Fool contributor Motley Fool Staff has no position in any stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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