0038 GMT - Consensus expectations for Woodside Energy's dividend look light to UBS. That's despite likely cuts to forecasts following Woodside's 4Q production report yesterday. Analyst Tom Allen says investors appear to underestimate the financial accounting benefit from Woodside's recent asset-swap deal with Chevron. That deal involves Woodside handing Chevron its 13% interest in the Wheatstone liquefied natural gas project in Australia. In return, Woodside is acquiring Chevron's nearly 17% interests in the North West Shelf LNG and oil projects. The deal benefits Woodside's depreciation and amortization assessments, UBS says, and "supports a dividend beat (versus consensus) at the FY 2024 result." (david.winning@wsj.com; @dwinningWSJ)
(END) Dow Jones Newswires
January 22, 2025 19:38 ET (00:38 GMT)
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