Netlink NBN is paying a higher distribution even with profit after tax down 8% y-o-y to $50.3 million in 2HFY2024, bringing full year profit tax down 5.5% to $103.2 million, due to a combination of lower ebitda, higher financing costs and depreciation.
NetLink NBN Trust has reported a distribution per unit of 2.65 cents for 2HFY2024 ended March, up 1.1% y-o-y. This brings its full year payout to 5.3 cents, up by a similar 1.1%.
This means NetLink NBN has been able to deliver "small but steady" growth in returns to unitholders.
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