CEU

ConnectEast Group (CEU)

Stock Code

CEU

Stock Exchange

ax

ConnectEast Group (CEU) was the winning tenderer of EastLink project, which is the biggest road project in Australia, with maximum duration of the contract up to 39 years. EastLink consisted of around 45 kilometers of tolled and untolled freeway-standard road joining the Eastern Freeway in Melbourne's east to the Frankston Freeway in the south. The completion of the design and construction of the EastLink Project was carried out in fiscal 2008.

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ConnectEast Group Dividends

25 August, 2010 - 00:18

Study the historical dividends for CONNECTEAST GROUP. Dividends are a portion of company profits paid out to shareholders. You are eligible to receive CEU dividends if you own the company's stock on the ex-dividend date. Investor's must have purchased the stock before the ex dividend date to be entitled to the dividend. The previous owner of the shares will receive the CEU dividend if you buy the stocks on or after the ex dividend date. The Pay Date or the Date Payable is the day when the dividend is paid to shareholders.

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ConnectEast (CEU) Shares


ConnectEast (CEU) is due to go ex-dividend $0.0325 on 10 April. This represents a 2.2% yield. ConnectEast (CEU) shares have a maintained 12 month share price target of $1.55 from analyst Macquarie Research Equities. The major issue for ConnectEast is the timing of the completion of the EastLink road. At this stage MRE forecast it to open in 15 months, i.e. June 2008, with a toll free period and revenue from July 2008. Management remains conservative with the opening date, as being November 2008. The potential remains for the early opening to be brought forward if the weather is reliable and the tolling system development can be accelerated. As per the contract, it is Leightons which must deliver these to ensure an early completion bonus (which provides them with a strong incentive). Of interest in the result is that management is starting to talk about the latent option value in the road. While still in the early stage of Frankston by-pass, East-West corridor and Monash West Gate corridor will all prove attractive and add to the traffic growth certainty in the road.

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