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MarketScreener Homepage  >  Equities  >  AUSTRALIAN SECURITIES EXCHANGE LIMITED  >  Origin Energy Ltd    ORG   AU000000ORG5

ORIGIN ENERGY LTD

(ORG)
  Report  
End-of-day quote. End-of-day quote AUSTRALIAN SECURITIES EXCHANGE LIMITED - 09/20
7.89 AUD   -0.13%
09/13ORIGIN ENERGY : Annual Report 2019
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09/02ORIGIN ENERGY LTD : Ex-dividend day for final dividend
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08/23ORIGIN ENERGY LIMITED : - Full year results 2019
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Origin Energy Sets Dividend Policy as Profit Jumps

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08/21/2019 | 05:04pm EDT

By Robb M. Stewart

MELBOURNE, Australia--Origin Energy pledged to pay out up to 50% of its free cash flow each year as dividends after recording a big jump in annual profit.

The Australian energy producer and retailer only resumed dividend pay outs in its latest fiscal year after wrestling its debt burden lower and as income rolled in from a flagship natural-gas export operation on Australia's east coast.

Net profit increased to 1.21 billion Australian dollars (US$821.3 million) in the 12 months through June from A$280 million the year before, the energy company said Thursday.

Underlying earnings before interest, tax, depreciation and amortization were 16% higher at A$3.23 billion, it said.

The company plans to pay a dividend of 15 cents a share for the second half of the year, for a full-year payout of 25 cents.

It resumed dividends with its first-half results, after suspending them in 2016 to focus on paying down debt. Loans built up with investments including its share of the almost-A$25 billion Australia Pacific Liquefied Natural Gas project in eastern Queensland, which counts ConocoPhilips (COP) and China Petrochemical Corp. as partners.

Origin said it would aim to pay shareholders dividends equating to between 30% and 50% of free cash flow a year. It also will operate a dividend reinvestment plan, with no discount as the company will buy shares on-market.

Origin last year finalized the A$1.59 billion sale of a basket of conventional oil-and-gas assets to Beach Energy, and this year agreed to offload a coal-seam gas development in eastern Australia to its flagship liquefied natural gas venture for A$231 million.

The company said its strong earnings over the last year were driven by a higher effective oil price, cost-cutting and stable production at the APLNG project, which delivered net cash flow to Origin of A$943 million. Still, its energy markets arm saw a decline in electricity earnings due to pricing changes for some customers and stiff competition, it said.

Write to Robb M. Stewart at robb.stewart@wsj.com

Stocks mentioned in the article
ChangeLast1st jan.
BEACH ENERGY LTD -1.15% 2.57 End-of-day quote.93.31%
CONOCOPHILLIPS 1.42% 60.82 Delayed Quote.-2.45%
LONDON BRENT OIL -0.43% 64.62 Delayed Quote.25.71%
ORIGIN ENERGY LTD -0.13% 7.89 End-of-day quote.22.10%
SEVEN GROUP HOLDINGS LTD 1.12% 18.1 End-of-day quote.26.23%
WTI -0.58% 58.45 Delayed Quote.36.21%
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Financials (AUD)
Sales 2020 14 320 M
EBIT 2020 1 384 M
Net income 2020 1 049 M
Debt 2020 5 115 M
Yield 2020 4,13%
P/E ratio 2020 13,3x
P/E ratio 2021 12,5x
EV / Sales2020 1,32x
EV / Sales2021 1,27x
Capitalization 13 858 M
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Technical analysis trends ORIGIN ENERGY LTD
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TrendsBullishNeutralBullish
Income Statement Evolution
Consensus
Sell
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Mean consensus BUY
Number of Analysts 12
Average target price 8,55  AUD
Last Close Price 7,89  AUD
Spread / Highest target 19,2%
Spread / Average Target 8,37%
Spread / Lowest Target -1,52%
EPS Revisions
Managers
NameTitle
Frank Calabria Chief Executive Officer, MD & Executive Director
Gordon McKellar Cairns Independent Non-Executive Chairman
Greg Jarvis Executive GM-Energy Supply & Operations
Lawrence John Tremaine Chief Financial Officer
Carl McCamish Executive GM-Technology, Risk & Transformation
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