DIVIDENDS – AUSTRALIA

Scentre posts steady growth, higher fees

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Original article by Robert Harley
The Australian Financial Review – Page: 35 : 24-Feb-16

Australian-listed shopping centres landlord Scentre Group has reported that its funds from operations rose by 3.8 per cent to $A1.199bn in calendar 2015, which equates to $A0.2258 per security. The real estate investment trust expects funds from operations to increase by three per cent in 2016. Investors will receive a full-year distribution of $A0.209 per security, which is forecast to rise to $A0.213 in 2016.

CORPORATES
SCENTRE GROUP – ASX SCG, WESTFIELD CORPORATION – ASX WFD, MORGAN STANLEY AUSTRALIA LIMITED

BHP cuts dividend 75pc; goes hunting for deals

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Original article by Amanda Saunders
The Australian Financial Review – Page: 1 & 19 : 24-Feb-16

BHP Billiton has abandoned its progressive dividend policy after posting a 2015-16 interim net loss of $US5.7bn. Underlying earnings were 92 per cent lower at $US412m. The half-year results were marred by write-downs associated with BHP’s oil and gas business, and a restructuring has resulted in the departure of the heads of its iron ore and petroleum divisions. Shareholders will receive an interim dividend of just $US0.16 per share, compared with $US0.62 previously.

CORPORATES
BHP BILLITON LIMITED – ASX BHP, ABERDEEN ASSET MANAGEMENT LIMITED, ANGLO AMERICAN PLC, GLENCORE PLC, ARGO INVESTMENTS LIMITED – ASX ARG

Caltex retains M&A firepower with modest buyback

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Original article by Brian Robins
The Australian Financial Review – Page: 15 : 24-Feb-16

Caltex Australia has posted a net profit of $A522m for calendar 2015, compared with $A20m in 2014. Underlying earnings on a replacement cost operating profit basis increased from $A795m to $A977m. However, the downturn in the crude oil price impacted on revenue, which fell from $A23.9bn previously to $A20bn. Shareholders will receive a final dividend of $A0.70 per share and a full-year payout of $A1.17, while Caltex will repurchase $A270m worth of its shares.

CORPORATES
CALTEX AUSTRALIA LIMITED – ASX CTX, CAR NEXT DOOR PTY LTD

BHP urged to revive the faith

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Original article by Amanda Saunders
The Age – Page: 21 : 22-Feb-16

The 2015-16 interim financial results of BHP Billiton are likely to be closely scrutinised by investors. Pengana Capital’s Tim Schroeders says the resources group needs to restore investors’ faith and outline its strategy to achieve future growth. He believes that BHP will abandon its progressive dividend policy in favour of a payout ratio, while Paul McTaggart of Credit Suisse anticipates a reduction in capital expenditure over the next two years.

CORPORATES
BHP BILLITON LIMITED – ASX BHP, PENGANA CAPITAL LIMITED, CREDIT SUISSE (AUSTRALIA) LIMITED, UBS HOLDINGS PTY LTD, BLOOMBERG LP, VUMA CONSENSUS, RIO TINTO LIMITED – ASX RIO, SAMARCO MINERACAO SA

Evolution cash flow lift allows dividend plan

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Original article by Tess Ingram
The Australian Financial Review – Page: 28 : 19-Feb-16

Listed gold producer Evolution Mining has posted a 2015-16 interim net loss of $A15.5m, compared with a profit of $A43.1m previously. The result was marred by factors such as acquisition costs and accounting adjustments. The group’s underlying profit of $A107.9m was 150 per cent higher than previously, and revenue rose by 87 per cent to $A607.1m. Investors will receive an unfranked interim dividend of $A0.01 per share.

CORPORATES
EVOLUTION MINING LIMITED – ASX EVN, RBC CAPITAL MARKETS, BHP BILLITON LIMITED – ASX BHP, RIO TINTO LIMITED – ASX RIO, INDEPENDENCE GROUP NL – ASX IGO

Origin shareholders hit with dividend cut

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Original article by Angela Macdonald-Smith
The Australian Financial Review – Page: 15 & 21 : 19-Feb-16

Shares in Origin Energy closed 8.7 per cent higher at $A4.23 on 18 February 2016, despite posting a 2015-16 interim loss of $A254m. The result was marred by a sharp decline in the crude oil price, which has impacted on Origin’s LNG project in Queensland. Origin’s underlying profit for the half-year fell from $A346m to $A254m. Shareholders will receive an interim dividend of $A0.10 per share, compared with $A0.25 previously.

CORPORATES
ORIGIN ENERGY LIMITED – ASX ORG, CONTACT ENERGY LIMITED – ASX CEN, JP MORGAN AUSTRALIA LIMITED, CITIGROUP PTY LTD, ALLAN GRAY AUSTRALIA PTY LTD, STANDARD AND POOR’S CORPORATION

Oil rout hinders Browse outlook

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Original article by Matt Chambers
The Australian – Page: 19 & 20 : 18-Feb-16

Oil and gas producer Woodside Petroleum has slashed its full-year dividend payout after posting a 2015 net profit of $US26m, compared with $US2.41bn previously. The group’s underlying profit of $US1.126bn exceeded market forecasts, although it was 53 per cent lower than in 2014. Woodside’s full-year result was marred by factors such as a $US865m write-down and the downturn in the crude oil price. Shareholders will receive a full-year dividend of $US1.09 per share.

CORPORATES
WOODSIDE PETROLEUM LIMITED – ASX WPL, CHEVRON CORPORATION, ROYAL DUTCH SHELL PLC, BP PLC, MITSUBISHI CORPORATION, MITSUI AND COMPANY LIMITED, PETROCHINA COMPANY LIMITED, ORGANISATION OF PETROLEUM EXPORTING COUNTRIES, MACQUARIE GROUP LIMITED – ASX MQG, AUSTRALIA. DEPT OF THE TREASURY

Mirvac points to issues across both sectors

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Original article by Matthew Cranston
The Australian Financial Review – Page: 33 : 12-Feb-16

Mirvac Group has posted a 2015-16 interim net profit of $A472.7m, which is 69 per cent higher than previously. The result was bolstered by a $A289.3m rise in the value of the group’s portfolio of investment properties. Mirvac still expects to pay a full-year distribution of between $A0.097 and $A0.099 per stapled security. Meanwhile, CEO Susan Lloyd-Hurwitz forecasts that growth in residential property prices will slow and sales volumes will fall.

CORPORATES
MIRVAC GROUP – ASX MGR, MORGAN STANLEY AUSTRALIA LIMITED, FOLKESTONE MAXIM ASSET MANAGEMENT LIMITED

Suncorp profit hit by natural disaster claims

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Original article by Ruth Liew
The Australian Financial Review – Page: 16 : 12-Feb-16

Australian-listed insurer Suncorp Group has reported a 2015-16 interim net profit of $A530m, which is 16 per cent lower than previously. The result was marred by factors such as lower returns from its investment portfolio and an increase in claims arising from natural disasters. The core general insurance division has booked a half-year profit of $A297m, while the banking arm’s profit was $A194m. Shareholders will receive an interim dividend of $A0.30 per share.

CORPORATES
SUNCORP GROUP LIMITED – ASX SUN, AUSTRALIAN ASSOCIATED MOTOR INSURERS LIMITED, GIO AUSTRALIA LIMITED, COMMONWEALTH BANK OF AUSTRALIA – ASX CBA, BKI INVESTMENT COMPANY LIMITED – ASX BKI, FIDELITY WORLDWIDE INVESTMENT, CLSA AUSTRALIA PTY LTD, GPT GROUP – ASX GPT

Rio Tinto set to slash dividend as profits dive

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Original article by Amanda Saunders
The Australian Financial Review – Page: 13 & 18 : 12-Feb-16

Rio Tinto has posted a 2015 statutory loss of $US866m, while its underlying earnings for the calendar year were 51 per cent lower at $US4.5bn. The downturn in the iron ore price resulted in a sharp fall in revenue, to $US34.8bn. Shareholders will receive a full-year dividend of $US2.15 per share, but Rio Tinto will abolish its progressive dividend policy in 2016 in favour of a payout ratio. It expects to pay a full-year dividend of around $US1.10 per share in 2016.

CORPORATES
RIO TINTO LIMITED – ASX RIO, BHP BILLITON LIMITED – ASX BHP, ABERDEEN ASSET MANAGEMENT LIMITED, ENERGY RESOURCES OF AUSTRALIA LIMITED – ASX ERA, STANDARD AND POOR’S CORPORATION