Aurizon Holdings Ltd (AZJ.AU) saw its shares surge 6.55% during intraday trading on Monday, following the release of its robust first-half financial results and several shareholder-friendly announcements.
The Australian rail freight operator reported underlying earnings per share of AU$0.136 for the fiscal first half, up from AU$0.113 a year earlier and exceeding analyst expectations. Revenue for the period reached AU$2.1 billion, compared with AU$2.02 billion in the prior year and also beating market forecasts.
Investors reacted positively to the company's decision to raise its full-year dividend guidance to AU$0.22-0.23 per share from the previous range of AU$0.19-0.20. Additionally, Aurizon extended its on-market share buyback program by AU$100 million, bringing the total authorization to AU$250 million, signaling strong confidence in its financial position and commitment to returning capital to shareholders.