GrainCorp Has Firepower for More Capital Management -- Market Talk

Dow Jones05-17

2319 GMT - GrainCorp's rock-solid balance sheet was a highlight of the grain handler's 1H result for Macquarie, which thinks more capital management could be on the cards. GrainCorp had net cash of A$495 million at end-March, up from A$349 million at the end of FY 2023. That enabled the company to pay a special dividend of A$0.10/share on top of its A$0.14/share ordinary dividend. "We think balance sheet strength enables future growth spend includes potential crush plant expansion and potential for further capital management beyond declared dividends and A$50 million buyback," says Macquarie. (david.winning@wsj.com; @dwinningWSJ)

(END) Dow Jones Newswires

May 16, 2024 19:19 ET (23:19 GMT)

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