Sydney, Feb 23, 2026, 17:48 AEDT — Market closed.
- Aurizon (ASX:AZJ) ended up 0.75% at A$4.04, trading close to Friday’s A$4.07 high.
- The broader S&P/ASX 200 fell 0.61%, with tech and healthcare among the weakest pockets.
- Investors are sizing up Aurizon’s higher dividend outlook, buyback and regulatory-led network uplift ahead of early-March dates.
Aurizon Holdings Ltd shares finished higher on Monday, closing up 3 Australian cents at A$4.04 after trading between A$4.01 and A$4.06. The rail freight operator ended within reach of Friday’s A$4.07, its highest level in the past year, with about 16 million shares changing hands. (StockAnalysis)
The stock’s gain came against a softer local tape. Australia’s S&P/ASX 200 slid 0.61% at the close, as losses in IT, healthcare and real estate investment trusts outweighed strength elsewhere. (Investing)
Why it matters now: Aurizon has become a dividend-and-buyback story again, and the calendar is starting to bite. Investors have a record date in early March on the horizon, with the company also flagging a higher full-year payout range than it was talking about a few months ago.
There’s also the bigger, slower-moving question around earnings durability. Aurizon’s coal haulage and regulated network earnings can look steady until volumes shift or the regulator says no, and the stock is now priced for fewer slips.
In its latest results release, Aurizon reported half-year EBITDA — a proxy for operating profit — of A$891 million, up 9%, and NPAT (net profit after tax) of A$237 million, up 16%. It lifted its interim dividend to 12.5 cents a share, 90% franked (carrying Australian tax credits), and extended its on-market buyback to as much as A$250 million. CEO Andrew Harding said the result “underscore[s] the strength” of the Network and Coal units. (Company Announcements)
The company kept its FY2026 underlying EBITDA outlook at A$1.68 billion to A$1.75 billion, and raised its full-year dividend expectation to 22–23 cents per share. It said a draft 10-year undertaking for the Central Queensland Coal Network, if approved by the Queensland Competition Authority, would deliver an average annual revenue uplift of A$45 million to Aurizon Network. (Company Announcements)
Monday’s close left Aurizon outperforming a market that was leaning risk-off in parts, but the stock has already banked much of the reporting-season re-rate. At these levels, small changes in coal mix, network returns or costs can move the dial.
A downside scenario is straightforward: weaker coal volumes or disruptions — derailments, prolonged wet weather — can crimp haulage and push costs up, while regulatory timelines can drag. Aurizon itself flagged an outlook that assumes no major supply chain or customer disruptions. (Company Announcements)
For the next session and the week ahead, investors will watch whether Aurizon can hold near its recent highs as income buyers position for the March 3 record date. The interim dividend is due to be paid on March 25. (Company Announcements)
