QRN

QR National (ASX:QRN) stock has changed hands yesterday with a combination of a stock placement and a stock buyback from the Queensland Government's stake in the company.

• $1.5 billion in QRN stock was sold.
• $1 billion was bought back by QR National, $500 million was placed with a few large investors. 144 million shares were crossed on the stockmarket at $3.47 per share.

Integrated heavy haul freight railway operator and rail transporter of coal from mine to port for export, QR National (ASX:QRN) have released their full year financial results for FY 2012 to the ASX stockmarket.

• Net profit of $441 million for full year to June, up 22 percent from $360.9 million from the 2010/11 financial year.
• The rail freight company will cut 900 jobs as part of a restructure program, with 750 voluntary redundancies.

EGMs and floats trail behind with two companies each, while there are 6 stocks that are scheduled to go on ex-dividend this weekend, September 2, 2011.

Dividends

QR National (ASX:QRN) has secured a rail haulage agreement with Gindalbie Metals (ASX:GBG) which is expected to generate over $900 million in profits. The railway operator will transport iron ore for Gindalbie starting January next year.

Australian rail group, QR National (ASX:QRN) has confirmed that the company will miss their forecasted net profit target by up to 21 percent from their prospectus for this financial year due to the Queensland floods cutting coal volumes. The loss of revenue from access fees ad lower coal production volumes from mine clients as well as repairs to the rail track could cost the company up to $70 million in lost profits.

Australian coal train railway operator, QR National (ASX:QRN) is Australia's biggest float in a decade, will debut on the Australian Securities Exchange (ASX) on Monday at $2.55 per share, near the bottom of their predicted float price. The shares issue has raised $4.63 billion for the Queensland government.