The Atlas Arteria Group (ASX: ALX) share price is performing well today. Atlas Arteria shares are up a solid 1.25% to $6 a share at the time of writing. Consequently, outperforming the S&P/ASX 200 Index (ASX: XJO), which is up 0.34%.
It’s a welcome development for Atlas Arteria shareholders. Just one month ago, they were watching the Atlas share price hit a low of $5.49 a share. Even after today’s move though, Atlas shares are still down roughly 7% year to date. As well as close to 14% down from the most recent 52-week high. They are also down close to 30% from the pre-COVID high watermark of ~$8.40.
Why are Atlas Arteria shares rising today?
Today’s moves in the Atlas Arteria share price are almost certainly the result of an ASX announcement the company made this morning. In this announcement, Atlas announced a final dividend distribution for shareholders covering the six months to 31 December 2020. This final dividend distribution will come in at 13 cents per share (stapled security) and will be paid out on 9 April, with an ex-dividend date of 30 March. This payout will not come with franking credits.
Shareholders have reason to be pleased with this distribution. Atlas Arteria did not pay a dividend in March last year due to the unfolding pandemic. The company’s previous interim payout came in at 11 cents per share, which was paid back in September 2020. Although saying that, the final distribution for 2019 was 15 cents per share.
On the current share price, Atlas Arteria has a trailing dividend yield of 4.27%.
Who is Atlas?
Atlas Arteria is a toll roads operator. It was formed in 2010 after the old Macquarie Infrastructure Group split into Intoll and Macquarie Atlas, which was later renamed to Atlas Arteria in 2018. Although Atlas is an ASX company, its assets lie predominantly outside Australia. It’s crown jewels are the Warnow Tunnel in Germany, and the Dulles Greenway road in the US state of Virginia. Atlas also owns stakes in two toll roads in France.
At the current Atlas Ateria share price, the company has a market capitalisation of $5.79 billion.
Where to invest $1,000 right now
When investing expert Scott Phillips has a stock tip, it can pay to listen. After all, the flagship Motley Fool Share Advisor newsletter he has run for more than eight years has provided thousands of paying members with stock picks that have doubled, tripled or even more.*
Scott just revealed what he believes are the five best ASX stocks for investors to buy right now. These stocks are trading at dirt-cheap prices and Scott thinks they are great buys right now.
*Returns as of February 15th 2021
More reading
- ASX 200 up 0.3%: Brickworks impresses, Resolute hammered, Netwealth crashes
- The ASX sector set to outperform this morning thanks to Suez
- 5 things to watch on the ASX 200 on Thursday
- ASX 200 rises, Airtasker soars again, Westpac considers NZ
- How is Australia’s jobs rebound affecting ASX shares?
Motley Fool contributor Sebastian Bowen has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.
The post What is pushing up the Atlas Arteria (ASX:ALX) share price today? appeared first on The Motley Fool Australia.
from The Motley Fool Australia https://ift.tt/3lNRNhS
Leave a Reply