The AGL Energy Ltd (ASX: AGL) share price is down 0.7% on a day when the wider S&P/ ASX200 (ASX: XJO) is also down after the electricity retailer updated investors on operating performance.
For the financial year ending June 30 2019 it still expects to deliver adjusted or “underlying” profit after tax between $780 million to $800 million. The comparable amount in fiscal 2018 was $1,040 million with AGL attributing this year’s falls to due a power outage at its Loy Yang unit slicing $80 million to $100 million off profit.
Over fiscal 2018 it delivered $1.19 per share in 80% franked dividends to investors
On average analysts are tipping $1.03 in dividends over FY 2020 to put it on an estimated 5.3% yield plus the partial franking credits.
The company is also facing government pressure to bring down residential power bills and hopes to offset some of this by cutting operating costs from its business.
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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 Scott Phillips.