Transurban investors get bigger payday but growth prospects scarce

Transurban investors are in for a higher payday after the toll-road giant more than quadrupled its net profit, but cash-strapped drivers, working from home and disruptive motorway projects are curtailing the company’s growth in the country’s largest cities.

Despite the higher dividends – Transurban said it will likely pay 65¢ per share this year, up 3¢ from the last financial year, in line with broker forecasts – shares fell on Thursday after it reported lower-than-expected income from roads in Sydney and Melbourne.