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Sydney Airport Holdings Pty Ltd (ASX:SYD) CEO boasts of flying start to 2018

Credit: Woodys Aeroimages

Sydney Airport Holdings Pty Ltd’s (ASX: SYD) chief executive, Geoff Culbert, is upbeat about the future of global travel in anticipation of Boeing’s new 777X and Airbus A350-900 hitting the market.  

At the annual general meeting, Culbert said that with a growing middle class in parts of the world, especially in China with only 8% of the population having a passport, there will be more international passengers passing through Sydney. 

The company expects to meet distribution guidance of 37.5 cents per stapled security, up from 34.5 cents last year. The shares are trading on a forward price-earings-ratio (PER) of 44x and are paying an annual dividend yield of 5%, which is unfranked. 

Transurban Group (ASX: TCL), in the same sector, is trading on an even higher forward PER of 61x, and pays an annual dividend yield of 4.8%, which is 8% franked. 

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Motley Fool contributor Rosemary Steinfort owns shares of Transurban Group. The Motley Fool Australia owns shares of and has recommended Sydney Airport Holdings Limited and Transurban Group. 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 Scott Phillips.

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