The Atlas Arteria Group (ASX: ALX) share price is performing well today. Atlas Arteria shares are up a solid 1.25% to $6 a share at the time of writing. Consequently, outperforming the S&P/ASX 200 Index (ASX: XJO), which is up 0.34%.
It's a welcome development for Atlas Arteria shareholders. Just one month ago, they were watching the Atlas share price hit a low of $5.49 a share. Even after today's move though, Atlas shares are still down roughly 7% year to date. As well as close to 14% down from the most recent 52-week high. They are also down close to 30% from the pre-COVID high watermark of ~$8.40.
Why are Atlas Arteria shares rising today?
Today's moves in the Atlas Arteria share price are almost certainly the result of an ASX announcement the company made this morning. In this announcement, Atlas announced a final dividend distribution for shareholders covering the six months to 31 December 2020. This final dividend distribution will come in at 13 cents per share (stapled security) and will be paid out on 9 April, with an ex-dividend date of 30 March. This payout will not come with franking credits.
Shareholders have reason to be pleased with this distribution. Atlas Arteria did not pay a dividend in March last year due to the unfolding pandemic. The company's previous interim payout came in at 11 cents per share, which was paid back in September 2020. Although saying that, the final distribution for 2019 was 15 cents per share.
On the current share price, Atlas Arteria has a trailing dividend yield of 4.27%.
Who is Atlas?
Atlas Arteria is a toll roads operator. It was formed in 2010 after the old Macquarie Infrastructure Group split into Intoll and Macquarie Atlas, which was later renamed to Atlas Arteria in 2018. Although Atlas is an ASX company, its assets lie predominantly outside Australia. It's crown jewels are the Warnow Tunnel in Germany, and the Dulles Greenway road in the US state of Virginia. Atlas also owns stakes in two toll roads in France.
At the current Atlas Ateria share price, the company has a market capitalisation of $5.79 billion.
