By Rhiannon Hoyle
SYDNEY--Australian rail operator Aurizon Holdings Ltd. (AZJ.AU) said it would buy back up to 300 million Australian dollars (US$203 million) in shares, despite a fall in annual net profit that led to a slightly weaker dividend on a year ago.
The company on Monday also said it would establish a new capital structure that will give it an extra A$1.2 billion in funding capacity, although decided against splitting the group, saying the benefits of integration outweighed the benefits of separating business units.
Aurizon reported a net profit of A$473 million for the year through June, down 15% on the same period a year earlier. It said it would pay a final dividend of 12.4 cents a share, down 5% on a year ago, although equal to 100% of underlying profits.
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