2332 GMT [Dow Jones]--Dalrymple Bay Infrastructure reports annual funds from operations materially above consensus, although shareholder returns are "the real story" of DBI's 2025 results, Citi analyst Samuel Seow says. The company's 2H distribution is roughly 5% higher than consensus, and its 1H 2026 guidance is roughly 10% higher. "Commentary suggests payout ratio increased to the upper end of 60-80% range," says Seow. He reckons the stock's recent strength appears justifiable given materially higher payouts. DBI is up 9.0% at A$5.56 on the 1H result. It is up more than 50% since the start of last year. (rhiannon.hoyle@wsj.com)

(END) Dow Jones Newswires

February 23, 2026 18:37 ET (23:37 GMT)

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