On Friday, the Transurban Group (ASX: TCL) share price fell 2% to $13.81 per share. The stock broadly followed the S&P/ASX 200 Index (ASX: XJO), which also lost 2% Friday.
The Transurban share price is down in morning trade today, and is currently sitting at $13.67 per share with a market capitalisation of $37.39 billion. Transurban shares have bounced back sharply from their 19 March low (up by 36.15%), but the Transurban share price still down 8.3% year-to-date.
Transurban has an annual dividend yield of 3.4% and will pay its next dividend of 16 cents on 14 August. It's too late to get in on that payment now, but while its dividends have fallen since the onset of national lockdowns, the company has a long track record as a reliable yield stock.
What does Transurban do?
Transurban is one of the world's largest toll road operators. It also designs and builds new road projects. The company is Australian owned and active in Melbourne, Sydney and Brisbane. It also operates in Montreal, Canada, and Greater Washington in the United States (US).
If you've popped onto the major freeways in New South Wales, Victoria or Queensland, you've probably paid Transurban for the privilege.
What's next for the Transurban share price?
With the coronavirus crisis shifting on an almost daily basis, it's impossible to say what the short-term impact will be on any Aussie stocks.
But if you're looking for a share to add to your long-term holdings, I think Transurban should be near the top of your list.
Social distancing and lockdowns in the US, Canada and Australia have had a major impact on the company's 2020 revenues. The company's 2020 financial year results will be released on 12 August, so stay tuned. And with Victoria entering the most restrictive lockdown measures in Australian history, the coming months will likely see more pain ahead for its toll revenues.
But longer term, which is where I think investors should be concentrating, the impact of this virus should see people in the major cities turning away from public transport and more inclined to use their own cars, in my view. There's nothing like your boot and bonnet to maintain a safe distance.
