2335 GMT - Australian airline Qantas said it would pay dividends for the first time since 2019, but RBC Capital Markets analyst Owen Birrell points out that the dividends are essentially replacing share buybacks. In the half year ended in December, Qantas completed A$431 million of share buybacks, roughly equivalent with the A$400 million in dividends the airline just announced with its 1H result. No new buybacks were offered. Birrell adds that the Qantas result was broadly in line with analyst consensus, but that the picture was more muddied at the segment level: Qantas domestic, Qantas international and Qantas loyalty all missed expectations, though budget unit Jetstar was a beat. Birrell keeps a "perform" rating on Qantas shares, though investors seem pleased, with Qantas shares recently trading 4.5% higher at A$9.29. (mike.cherney@wsj.com; @Mike_Cherney)
(END) Dow Jones Newswires
February 26, 2025 18:35 ET (23:35 GMT)
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