0026 GMT - Beach Energy's spending plan in the Otway basin of southeastern Australia has implications for its dividend, contends Barrenjoey. The bank forecasts group capex of A$843 million in FY 2026 and A$635 million in FY 2027. That's above consensus forecasts of A$650 million and A$530 million, respectively. "With Beach's dividend policy premised on 40-50% payout of pre-growth free cash flow, some but not all of this spend will be excluded from dividend calculations," analyst Dale Koenders says. Barrenjoey forecasts dividends of A$0.10/share and A$0.21/share in FY 2026 and FY 2027, reflecting a 9% and 18% dividend yield respectively. It says ongoing delays to the Waitsia natural-gas project and now a very large Otway capex program will delay capital being returned to shareholders. (david.winning@wsj.com; @dwinningWSJ)
(END) Dow Jones Newswires
April 29, 2025 20:26 ET (00:26 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
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