Australia's Adbri rises on positive FY22 outlook

Adbri

05/05/2022 02:34

** Shares of construction minerals producer Adbri Ltd
 ABC.AX  rise as much as 6% to A$3.00, mark their biggest
intraday gain since Feb 25
    ** Co says it expects growth in underlying earnings in 2022
 urn:newsml:reuters.com:*:nASX3vBV0f
    ** Says rain events across Queensland and New South Wales in
Q1 disrupted operations, however, volumes expected to rebound as
weather improves
    ** Adds that board maintains a sustainable dividend policy,
targeting payout ratio of 65-75% of earnings
    ** Shares hit their highest since April 21
    ** As of last close, stock up 0.4% this year
    

 (Reporting by Himanshi Akhand in Bengaluru)
 ((Himanshi.Akhand@thomsonreuters.com;))