0108 GMT - Macquarie raises expectations for Ampol's upcoming dividend. It now expects the Australian refiner and fuel marketer to declare an interim dividend of A$1.75/share. This "reflects a bottom-end payout of 50% (minimum allowable under Ampol's policy to which it has tended to strictly adhere)," Macquarie says. "However on review we now consider the A$340 million EG cash settlement (effectively 'buyback' component) to be over and above this." Ampol completed the A$1.165 billion acquisition of the EG Australia business at the end of June. Macquarie says the overall shareholder yield in 1H will be more like A$3.18/share, or 8%. That would be achieved while keeping gearing with the targeted 2.0-2.5X range.
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