Transurban Dividend, Transurban Dividend Date, Transurban Dividend History

Transurban as one of the world’s largest toll road operators owns and manages a network of 21 toll roads globally. The group has been referred to as a “Bond Proxy” here’s the Transurban Dividend stats.

Transurban Dividend Summary

Transurban Dividend, Transurban Dividend Date, Transurban Dividend History
DPS$0.365
Gross DPS$0.3703
Dividend yield2.67%
Gross yield2.70%
Payout Ratio100%
DRPYes
DRP DiscountsNo

Transurban Dividend Dates 2021

SummaryInterim DividendFinal Dividend
Per-share$0.15$0.215
Ex-div date30 December 202029 June 2021
Pay date16 February 202123 August 2021

Transurban Dividend History Graph

Transurban typically announces a dividend with the release of its half-year results in December and full-year results in June as seen in their financial calendar. TCL Dividends are typically paid twice a year, in February (interim dividend) and August (final dividend).

TCL has paid dividends every year since 2002. Including the 2008 GFC, and COVID-19 recessionary period. Transurban dividends are partially franked, this is due to the group's trust ownership. They also offer a Dividend Reinvestment Plan (DRP).

Transurban Dividend Yield Comparison

TCL current gross dividend yield is 2.7%. This is slightly below the four big banks (CBAWBCNABANZ), and the market average of 3.24%.

The current TCL yield of 2.70% far exceeds the Average Term Deposit rate of 0.4%

The disparity in yield is why we have seen a large number of investors turn to the stock market searching for yield.

Transurban Dividend, Transurban Dividend Date, Transurban Dividend History

Net Transurban Dividend Yield Over Time

We can see TCL's net dividend yield has averaged a rate of around 4%. From this, we can see TCL's current net yield of 2.67% is below its historic average.

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We can see a large increase in yield and a corresponding crash caused by the COVID recession which first sent the share price down, boosting theoretical yield before impacting earnings and reducing dividends.

Transurban Dividend, Transurban Dividend Date, Transurban Dividend History

Transurban Dividend Payout Ratio

Transurban Dividend, Transurban Dividend Date, Transurban Dividend History

A companies dividend payout ratio is the ratio of the total dividend sum paid out relative to the net income of the company. It is the percentage of earnings paid to shareholders in dividends.

Transurban Group has paid out distributions representing 100% of free-cash.

“When it comes to our security holders, we understand the value of distributions and we have continued to make this a priority, supported by our strong balance sheet and the solid foundations we have built in our business over a number of years. In FY22 we expect to pay distributions in line with Free Cash, excluding Capital Releases.”

TCL Annual Report

A distribution totaling 21.5 cents per stapled security will be paid on 23 August 2021 for the six months ended 30 June 2021. This will be made up of:

  • A 20.5 cents partly franked distribution from Transurban Holding Trust
  • A 1.0 cent fully franked dividend from Transurban Holdings Limited

This takes the total FY21 distribution to 36.5 cents per stapled security, of which 1.0 cent is fully franked.

Transurban Dividend, Transurban Dividend Date, Transurban Dividend History

Transurban Share Price

TCL Distribution VS Dividend

The listed entity of TCL is the combination of Transurban Holding Trust and Transurban Holdings Limited. As such the group pays out a "distribution" rather than a dividend.

A dividend is a payment made from a company, whereas a distribution is a payment usually made by a trust which comprises multiple sources of income such as: Interest, earnings, dividends, foreign currency, capital gains etc.

Transurban Dividend Policy

Transurban targets distribution that are in line with Free Cash, excluding Capital Releases.

With Transurbans structure, the group has a history of paying out distributions in line with free cash representing a 100% payout ratio.

When Will my Transurban Dividends be paid?

Transurban Dividend, Transurban Dividend Date, Transurban Dividend History

The Group typically announces a dividend with the release of its half-year results in February and full-year results in August.  Dividends are typically paid twice a year, in August (interim dividend) and February (final dividend).  Payment dates are listed on the financial calendar

Transurban Dividend Reinvestment Plan (DRIP)

Does TCL Offer a Dividend Reinvestment Plan? TCL does currently offer a Dividend Reinvestment Plan (DRP).

A DRIP or dividend reinvestment plan allows investors to automatically reinvest their dividends for additional shares in the company. Using this method, the investor will still receive the franking credit and will still be taxed on the cash value of their dividend. 

The simplest way to elect to participate in a company’s DRIP is through the related share registry (i.e. Computershare or Link Market Services).

Transurban Dividend, Transurban Dividend Date, Transurban Dividend History
  • In Computershare it’s as simple as going ‘my profile’- ‘Reinvestment plans’ and selecting the company and electing to participate in full or partially. That is either the entire amount or a partial amount of your dividend is reinvested.
  • On Link you simply click view details of the company of interest and update it in the ‘payments and tax’ section.

For more information check out our ASX DRIP VS NON-DRIP Guide.

Transurban Dividend History

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