AGL Flags Higher FY 2024 Profit, May Return Less in Dividends — Update

SYDNEY–AGL Energy flagged a big jump in profit in fiscal 2024 but said it may start to return a lower proportion of profit to shareholders as the Australian power company looks to plow capital into renewable energy generation.

AGL on Friday said that it expects an underlying profit for the 12 months through June 2024 of between 580 million Australian dollars (US$399.2 million) and A$780 million. It raised its fiscal 2023 underlying profit guidance to A$255 million-A$285 million, from A$200 million-A$280 million.