Graincorp Ltd (OTCPK:GRCLF)

$ 5.33 0.16 (3.09%) Market Cap: 1.14 Bil Enterprise Value: 1.32 Bil PE Ratio: 29.45 PB Ratio: 1.18 GF Score: 77/100

Half Year 2024 Graincorp Ltd Earnings Call Transcript

May 16, 2024 / 12:00AM GMT

Release Date Price: $5.37 (+1.13%)

Transcript

Robert Spurway

Graincorp Ltd - Chief Executive Officer, Managing Director, Executive Director

Thank you, and good morning, everyone. This morning, I'll present an update on GrainCorp's first-half '24 and then hand across to Ian Morrison, our Chief Financial Officer.

As we start I would like to acknowledge the traditional owners of the land on which we made for those of us presenting from Sydney, the Gadigal people of the Eora Nation and pay our respects to elders past and present. I will prompt the pages that we're talking to for those of you following online.

Starting with our executive summary on page 4. I want to start on the right-hand side of the page, we are doing what we said we were delivering on our commitment to provide capital returns whilst investing for growth. Our balance sheet remains exceptionally strong with $495 million in core cash. That's allowed the Board to on top of the ordinary dividend of $0.14 per share, declared a $0.1 special dividend and those dividends are on top of the previously announced share buyback of $50 million, which we expect to commence shortly.

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