We added TCL to the model portfolio on July 3rd at $11.70 and our ALGO engine triggered a buy signal on July 12th at $11.20.
With its $9 billion pipeline of road projects over the next 7 years, the stock should be well supported with increased longer-term cash-flow numbers.
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For the six-month period ending December 31st, TCL will pay 28.5 cents per share and a total of 56 cents per share over fiscal 2018.
This equates to 4.5% with the share price at $12.40 (plus some limited franking credits.)
We see the next resistance level at the December 19th high of $13.15.
Transurban
