The Aurizon Holdings Ltd (ASX: AZJ) share price is edging lower amid the company's eligible shareholders being rewarded today.
The coal rail freight operator's shares are currently down 0.27% to $3.67 apiece.
In context, the S&P/ASX 200 Index (ASX: XJO) is climbing during Wednesday morning's trade. The benchmark index is up 0.55% to 7,505.5 points.
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Aurizon pays out interim dividend
Aurizon reported mixed numbers across key metrics in its half year results for the 2022 financial year.
In summary, underlying net profit after tax (NPAT) fell 4% year on year to $257 million. This was driven by lower demand for services (wet weather) in addition to derailments and protester activity.
The board declared a 95% franked interim dividend of 10.5 cents per share to be paid on 30 March (today). This represents a decrease of 27% on the prior first half dividend of 14.4 cents per share.
Management noted that the reduction of the dividend supports Aurizon's commitment to maintain current credit ratings as it progresses towards completing the acquisition of One Rail Australia.
When calculating against the current share price, Aurizon is trailing on a dividend yield of 7.48%.
In addition, the payout ratio is calculated to be 75% of the company's underlying NPAT from continuing operations. This is within the management's policy to distribute between 70% to 100% of Aurizon's profits.
Aurizon share price summary
Despite moving in circles during recent times, the Aurizon share price has gained almost 6% in 2022.
When looking at the last 12 months, its shares have backtracked to post a loss of around 4%.
Aurizon has a price-to-earnings (P/E) ratio of 9.55 and commands a market capitalisation of roughly $6.08 billion.
