Often overlooked dividend share APA Group (ASX: APA) hit a 52-week high today of $10.31 despite the gas transportation business releasing no specific news to the market.
For the six-month period ending December 31 2018 APA Group delivered a net profit after tax of $157.4 million on operating revenue of $1,013 million, with the profit and revenue up 27% and 6% respectively.
The business also declared its on track to hit the upper end of its full year operating EBITDA range between $1,550 million to $1,575 million, with an additional $215 million in revenue per year expected from FY 2020 thanks to a range of new projects completing.
It also paid a fully franked dividend of 21.5 cents per share to take dividends over the past 12 months to 45.5 cents per share on a yield of 4.4% plus full franking credits.
Full year distributions are expected to hit 46.5 cents per share to suggest its final dividend in August 2018 will be 25.5 cents per share.
Overall with steady growth and reliable dividends it’s not hard to see why APA shares are heading higher on Australia’s low return state.
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