- Dividend return remains unlikely amid slower-than-expected recovery times and other headwinds.
- The dividend yield was what made the stock attractive, where yield seekers saw clear upside with low volatility on total returns.
- The company's downside exposure to international travel and oil & gas has been highlighted as a result of the pandemic.
- An absence of near-term growth catalysts is compounded by the headwinds management has outlined that are delaying recovery.
- We hold our neutral rating on the stock, on the basis of promising FCF growth over future periods, which increases the likelihood of dividend return.
For further details see:
Little Action For Macquarie Infrastructure Corp.