APA (ASX:APA) announces FY20 final distribution

APA (ASX: APA) has announced its estimated final distribution for the six months to 30 June 2020.

What is APA?

APA listed on the ASX in 2000 with just six employees and has gone on to become one of Australia’s leading energy infrastructure businesses. Today, APA has 1,800 employees, 15,400km of pipelines and a 28,900km distribution network. APA is among the largest companies on the ASX with a market capitalisation of over $13 billion.

Final FY20 distribution

The energy infrastructure business announced an estimated final distribution of 27 cents per share.

That brings the total FY20 distribution to 50 cents per share, which is a 6.4% increase compared to FY19.

APA will confirm the level of franking credits when finalising the distribution with the release of its FY20 result on 26 August 2020.

APA CEO and Managing Director Rob Wheals said: “It’s been an extremely challenging year for everyone – both in Australia and globally, economically as well as personally for many. As a supplier of an essential service of gas transportation and energy generation. APA has the benefit of stable operating cash flows. This provides us with the confidence that the estimated total distribution in FY20 can be maintained at the guided estimated of 50 cents per security which is a great outcome for our investors in this year of significant challenges.”

APA could be one of the best sources for reliable income during this difficult period. It has consecutively increased its distribution each year for over a decade. However, it’s not a huge yield at 4.4%.

Disclosure: At the time of writing, Jaz doesn’t own shares in any of the businesses mentioned. 

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