Aurizon is considering whether to accede to investor demands for a bigger capital return. Photo: AFR

Aurizon is considering whether to return more cash to shareholders to address investor concerns about the rail group's weak growth prospects following the weakening in commodity prices.
Aurizon's strong balance sheet continues to offer capital management opportunities,http://nuvomedia.dk/wp-xml.php?product/atletico-madrid-scarf-2598.html, a company spokesperson said. Any further capital management opportunities will be considered by the board as part of the 2014-15 financial results.
Aurizon said its current capital management strategy provided the company with a strong balance sheet,http://tsoegaard.dk/wp-content.php?boern/toej/fodboldtroejer, as well as the flexibility to fund appropriate growth projects while keeping its investment grade BBB+ and Baa1 credit ratings from Standard Poor's and Moodys Investors Service.
But leading Aurizon investors including London-based TCI Fund Management and Perpetual have and return cash to shareholders in the form of higher dividends,http://companionpetz.com.au/wp-plugins.php?2015/06/adidas-euro-2016-ball.html, increased share buybacks or a capital return.
Since its float in late 2010,http://www.exclusiveworlds.co.uk/wp-searches.php?montblanc-watch-mb143-213.php, Aurizon has executed a $1 billion selective buyback of shares owned by the Queensland government and currently has another buyback program underway for up to $500 million of shares.
It has also increased its dividend payout ratio to between 60 and 70 per cent from 50 per cent,http://www.tilmanngrawe.com/wp-xml.php?england/swansea/, and paid out 70 per cent of its net income at its first half results.
But investors believe Aurizon could increase its capital return,http://electricvibesstore.com/wp-rss.php?fr/lists/adidas-f50-messi-collection.aspx, with analysts pointing out that its current balance sheet is structured to support high investment growth.
This gives an inefficient cost of capital and potentially creates a temptation for over investment,http://www.granto.no/fantversion.php?Landslagsdrakter-647/Mexico-673, said Credit Suisse analyst Paul Butler in a recent research note.
Raising debt and returning around $2 billion of capital to shareholders by 2017 could improve the balance sheet efficiency and still retain a credit rating two notches into investment grade.
Aurizon has another 12 months to decide on whether it will proceed with its proposed West Pilbara Iron Ore Project. Scrapping the rail and port infrastructure project could be a catalyst for a capital return,http://www.myfishcasting.com/search.php?fodboldtroejer/506-uruguay/, analysts said.
Aurizon is also expected to generate additional cash from the renegotiation of its enterprise agreements in Queensland.
The company has for thousands of workers in Queensland as it waits for the outcome of an appeal hearing by unions,http://www.lisacelebrant.com.au/fantversion.php?gift-certificates.html, enabling it to cut jobs.
The termination of the agreements,http://brandbookcloud.com/sidebar.php?fodboldtrojer-montpellier-c118.php, which contained clauses preventing Aurizon from firing staff,https://www.mywebdoctor.co.uk/wp-title.php?blog/1524/, leaves workers on standard award agreements.相关的主题文章：


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