Thursday 19th June 2008
|Text too small?|
The review was spurred by the recent activity in equity markets, according to a statement from chief executive Jeff Kendrew. BBI will consider the most appropriate forms of providing capital, gearing levels and distributions to investors, he said.
The stapled securities of BBI rose 1.1% to A88.5 cents on the ASX and have dropped from more than A$1.20 in the past three months.
BBI will probably provide an update on the review when it releases its annual results in late August. Kendrew said BBI has a strong balance sheet and its "earnings and growth outlook for 2009 and beyond remains positive."
The company today said its estimated distribution for the six months ending June 30 is 7.5 cents per stapled security, in line with BBI's forecast 15 cents for the full-year. The payment will be confirmed in August.
Separately today, BBI said it has appointed David Hamill as acting chairman as it seeks a permanent replacement for Phil Green, who has stepped down.
This week, BBI said it is seeking an independent chairman. Hamill is the company's lead independent director and has served on the board since its inception as Prime Infrastructure in 2002.
No comments yet