Transurban has announced an interim dividend of 29 cents per stapled security.

The toll road operator has reaffirmed its guidance for distributions to total 59 cents in financial year 2019. News of the dividend comes on the back of a successful US private placement to repay the company’s M7 bank debt. The company says the placement successfully refinances all of M7’s remaining bank debt, whilst also extending the group’s debt maturity profile.

Shares in Transurban (ASX:TCL) closed 1.05 per cent higher to $11.53 yesterday.