The Aurizon Holdings Ltd (ASX: AZJ) share price is down 0.8% after announcing some news to the market.
Aurizon is Australia’s largest rail freight operator, moving coal, iron ore, agricultural freight and more across the nation. Each year it transports over 250 million tonnes of Australian commodities. It owns and operates one of the world’s largest coal rail networks, linking approximately 50 mines with three major ports in Queensland.
Aurizon’s Supreme Court News
Aurizon announced that the Supreme Court of Queensland confirmed Aurizon Network’s ability to charge above regulatory fees disputed by customers under the Wiggins Island Rail Project Deeds.
The rail network business is currently assessing the details of the Supreme Court decision, including the financial benefits, so it will update the market when that has been concluded.
Aurizon said no provision has been made, or revenue accrued, for the above regulatory fees since the completion of the Wiggins Island Rail Project in 2015 and this decision does not impact Aurizon’s regulated return for the project.
NEW INVESTING REPORT - SEP. 2019!
Finding ASX shares offering exceptional long term growth and dividends over 3% is rare. Our expert investors have just released a FREE investing report which reveals 3 proven ASX shares.
These three companies have proven themselves to be reliable dividend + growth shares over a decade. Click here to get instant access to the investing report -- updated September 2019.
Absolutely no credit card details or payment required.
Disclaimer: Any information contained in this article is limited to general financial/investment advice only. The information has not taken into account your specific needs, goals or objectives, so please consider consulting a licenced and trusted adviser before acting on the information. Please read The Rask Group’s Financial Services Guide (FSG) for more information. This article is authorised by Owen Raszkiewicz of The Rask Group, which is a corporate authorised representative No. 1264179 of Strawman Pty Ltd (ACN: 610 908 211) (AFSL: 501 223).
At the time of publishing, Jaz does not have a financial interest in any of the companies mentioned.