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12 stories mentioning ASX:TCLUpdated 24d ago

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Asia

Transurban Group Apologizes to 15 Former Employees for Underpayments of Long Service Leave Entitlements

Transurban Group (ASX:TCL) apologized to 15 former employees after acknowledging that they had underpaid their long-service leave entitlements upon termination due to calculation errors, according to a Monday statement.Transurban identified the issue and self-reported it to Workforce Inspectorate Victoria. The underpayments ranged from AU$86.26 to AU$5,597.71 per instance, totalling AU$18,361.11. It also contacted the former employees to remediate all outstanding long-service leave entitlements in full.After charges brought by the Workforce Inspectorate Victoria in the Magistrate's Court in Victoria, the matter is being dealt with via a diversion program, requiring relevant undertakings, the making of a AU$40,000 donation to Westjustice, a community justice organization in the Western suburbs of Melbourne, and public acknowledgement of Transurban's contraventions.

ASX:TCL
Asia

Transurban Group Apologizes After Incorrectly Classifying Certain Vehicles in Victoria

Transurban Group (ASX:TCL) apologized to its customers after some vehicles travelling on CityLink and/or West Gate Tunnel in Victoria were misclassified, leading to certain customers being charged incorrectly, according to a Friday statement.The firm said it was working to identify the affected travellers, fix classifications, and address any incorrect charges as quickly as possible. It will offer toll credits or refunds covering the amount overcharged to impacted customers.Its shares rose 1% in recent trading on Friday.

ASX:TCL
Asia

Transurban's 95 Express Lanes Signs Agreement for I-95 Expansion Study

Transurban Group's (ASX:TCL) indirectly held, 50%-owned 95 Express Lanes entered a development framework agreement with the Virginia Department of Transportation (VDOT) to evaluate a bi-directional expansion of the I-95 Express Lanes project, according to a Friday filing with the Australian bourse.The proposal would add about 120 new lane miles, including a 10-mile southern extension through Fredericksburg and Spotsylvania County, which is about six times the previously considered scope, and increase corridor capacity by roughly 140%, per the filing.The project's next phase of development covers design refinement, contractor procurement, and finalization of capital expenditures, ahead of a binding proposal to VDOT, with financial close expected in 2029 if approved, the filing added.

ASX:TCL
Asia

Transurban Group Declares Higher Dividend

Transurban Group (ASX:TCL) declared a dividend of AU$0.35 per share for the six months ending June 30, according to a Wednesday filing with the Australian bourse.The dividend will be paid on Aug. 18 to holders of record as of June 30, the filing said.The company paid a dividend of AU$0.33 per share in the prior corresponding period, an earlier filing showed.

ASX:TCL
Asia

Transurban Group Appoints Egis as Maintenance Partner for Roads in Southern Sydney

Transurban Group (ASX:TCL) named Egis as its long-term incident response and maintenance partner for roads in southern Sydney, according to a Tuesday statement.The appointment, which followed a competitive tender process, "sets up a stable platform for joint planning, investment and continuous improvement," of road networks in the region, Transurban Group said.

ASX:TCL
Asia

Transurban Group Agrees to Unpaid Tolls Framework Changes in New South Wales

Transurban Group (ASX:TCL), its investment partners, and the New South Wales Government agreed to a revamp of the unpaid tolls framework for toll roads in the state, according to a Tuesday filing with the Australian bourse.Toll notices and corresponding toll notice administration fees for Sydney's toll roads will be digitized under the changes expected to be rolled out in July, the filing said.

ASX:TCL
Asia

Transurban Group's Financing Vehicle Raises Existing Syndicated Bank Debt Facility Size to Over AU$3 Billion

Transurban Group (ASX:TCL) said Transurban Finance, Transurban's financing vehicle, has added a new AU$825 million tranche to its existing syndicated bank debt facility, increasing the total facility size to AU$3.48 billion, according to a Thursday Australian bourse filing.The new AU$825 million tranche has a tenor of four years.The company's shares rose past 1% in recent trading on Thursday.

ASX:TCL
Asia

Transurban Group Strikes CA$280 Million Deal to Sell Stake in Canada Concession; Traffic Growth Slows in May

Transurban Group (ASX:TCL) said it struck a deal with La Caisse for the sale of its remaining 50% stake in the A25 concession in Montreal, Canada, according to a Monday filing with the Australian bourse.Transurban expects to receive consideration of CA$280 million, and the deal's financial close is targeted by the end of June. The sale will see Transurban's A25 staff transition to La Caisse.Additionally, the company said its May traffic inched 0.1% higher from a year earlier, following growth of 0.6% in April, amid the continuing impact of the current geopolitical and macroeconomic environment.Over the course of May, Sydney traffic increased by 0.1% as construction activity from the M7-M12 interchange abated, and Melbourne traffic grew 1.7%, including the contribution from the West Gate Tunnel project.Meanwhile, Brisbane traffic decreased 3.2% mainly due to weather impacts, with May experiencing approximately four times the rainfall recorded in the same month a year earlier.Transurban also said it completed the M7-M12 integration project in New South Wales, and the M7-M12 interchange opened to traffic on Sunday.The company's shares were down nearly 1% in recent Monday trade.

ASX:TCL
Asia

Downer EDI Wins Contracts to Provide Road Maintenance, Incident Response Services on Transurban's New South Wales Assets

Downer EDI (ASX:DOW) won contracts of up to nine years to provide road maintenance and incident response services on Transurban's (ASX:TCL) northern assets in New South Wales, according to a Thursday filing with the Australian bourse.Transurban's northern assets include the NorthConnex tunnel, M2 Motorway, and Lane Cove Tunnel, the filing said.Service delivery under the New South Wales Incident Response and Maintenance Services (North Region) contracts will start in July for an initial seven-year term, with the option for two one-year extensions.The company expects total revenue of AU$310 million over the full nine-year term, per the filing.Downer shares fell 1% in morning trade on Thursday.

ASX:DOWASX:TCL
Asia

Transurban Group Says Westlink M7 Financing Arm Secures AU$300 Million Syndicated Loan

Transurban Group (ASX:TCL) said that WSO Finance, the financing arm of the Westlink M7, has raised AU$300 million through a syndicated bank facility to support the asset's funding requirements, according to a Tuesday Australian bourse filing.Transurban holds a 50% stake in the Westlink M7, per the filing.The proceeds will be used to refinance existing debt and cover related transaction costs, with the new facility scheduled to mature in April 2029, the filing added.The company's shares rose around 1% in recent Tuesday trade.

ASX:TCL
Asia

ASX Midday Sector Update: Energy Stocks Advance, Industrials Sector Struggles

Energy stocks advanced nearly 2% at midday Monday, the only sector in the green.Woodside Energy Group (ASX:WDS) gained more than 2% in recent trade.Meanwhile, the industrials sector struggled the most amid a broad-based decline, shedding almost 4%.Transurban Group (ASX:TCL) shares were down nearly 2% in recent trade.

ASX 200ASX:TCLASX:WDS
Asia

Transurban Says Recent Australian Traffic Showed Signs of Improvement After Earlier Disruptions

Transurban Group (ASX:TCL) said recent Australian traffic showed signs of improvement after geopolitical and macroeconomic factors impacted vehicle volume in late March and early April, according to a Monday filing with the Australian bourse.Melbourne posted a 1.6% increase in April traffic with the West Gate Tunnel adding to the total, while Brisbane traffic ticked 0.7% higher. But Sydney traffic fell 1.2%, impacted by the Easter holiday period and construction works, per the filing.Commercial vehicle traffic jumped nearly 11% across the company's Australian markets in April, and North American traffic "continued positive momentum with the strong value proposition supporting both volume and price growth," Transurban said.The company's shares were up nearly 1% in recent Monday trade.

ASX:TCL

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