TCL News: Auto & Transport Roundup: Market Talk - 16th Aug 2023, 9:08pm

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0333 GMT – The underlying free cash flow implied by Transurban FY 2024 distribution guidance looks disappointing to UBS but the management may be acting cautiously. Transurban has signaled an annual payout of A$0.62/security but says this is likely to include A$0.03-A$0.04/security of cash held during the construction of the WestConnex highway in Sydney. Excluding that capital adjustment, Transurban’s guidance implies 6% growth in free cash flow in FY 2024, UBS says.

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