Dalrymple Bay Infrastructure (DBI) is an Australian infrastructure company. Through its foundation asset, the Dalrymple Bay Terminal (DBT), it provides terminal infrastructure and services for producers and consumers of Australian coal exports.
Owned by the Queensland State Government, the terminal is leased to Dalrymple Bay Infrastructure on a 50 year lease (with a 49 year option) to operate, maintain and develop it.
Brookfield Infrastructure Partners owns 49.45 %, while Macquarie Group and QIC Ltd. (owned by the Queensland Government) each own 10.08%.
“DBI’s latest guidance surprised positively, prompting a 1% to 2% upgrade to forecasted dividend per share (DPS) for financial year 2025-2027, while earnings forecasts remain unchanged.
“The company reaffirmed its 24.5 cents per share DPS guidance for the year ending June 2026, implying a 6% yield and 12% total shareholder return at current prices, and maintained its 3% to 7% long-term DPS growth outlook.
“Key drivers include a CPI-linked 3.6% rise in terminal infrastructure charges and revenue uplift from NECAP (Non Expansion Capital Works) projects, which remain on schedule and budget.
“Despite concerns over potential dilutive acquisitions, management emphasised a disciplined approach to growth.
“With defensive features like 100% take-or-pay contracts and inflation-linked revenue, DBI retains an ADD rating and a $4.35 a share price target, appealing to yield-focused investors,” Raymond said.
Dalrymple Bay Infrastructure (DBI)
