Australia's Graincorp jumps 8% on annual outlook hike, special dividend

Graincorp

11/05/2023 02:25

** Shares of Australian agribusiness Graincorp Ltd  GNC.AX 
rise as much as 8.2% to A$7.680, their biggest intraday jump
since Oct. 31
    ** Hikes FY23 NPAT guidance to between A$220 mln ($149.23
mln) and A$260 mln, up from prior forecast of between A$180 mln
and A$220 mln
    ** Declares interim dividend of 14 AU cps, above last year's
12 AU cps; also announces special dividend of 10 AU cps
    ** Says seeing good global demand for Australian grain and
oilseeds; expects strong export program to continue in 2H23
    ** GNC at its highest level since March 10; among top 5
gainers in the ASX 200 benchmark index  .AXJO 
    ** Nearly a million shares change hands, vs the 30-day
average of 718,600 shares
    ** GNC down 4.3% this year as of last close vs a 3.1%
increase in the ASX 200 benchmark index
     

 (Reporting by Sameer Manekar in Bengaluru)
 ((Sameer.Manekar@thomsonreuters.com; Twitter: https://twitter.com/sameer_manekar))