2244 GMT - Beach Energy's interim dividend falls short of market expectations, with Barrenjoey noting the payout doesn't align with the company's distribution policy. Beach declared an interim dividend of 3 Australian cents a share. While that was up 50% on last year it fell short of the 4 cents anticipated by the market. Analyst Dale Koenders points out that Beach reported free cash flow of A$431 million in 1H. "But this free cash flow then also implies a payout ratio of only 16%, below policy of 40-50%," Koenders says in his initial response to the result. (david.winning@wsj.com; @dwinningWSJ)
(END) Dow Jones Newswires
February 05, 2025 17:44 ET (22:44 GMT)
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