DOW – Moves up on the new contract

Downer EDI Limited (ASX: DOW) has been awarded a contract by Chevron Australia Pty Ltd. as at July 16, 2018 for the provision of support and maintenance services. Downer’s scope of works includes support services provided by Spotless and spans the maintenance of non-process infrastructure assets at the Chevron operated Gorgon and Wheatstone facilities in Western Australia. In the Australian resources and energy sectors, Downer is a leader in the delivery of major maintenance and industrial services to customers. Mr. Fenn, Chief Executive of Downer said, that this new contract builds on Downer’s industry knowledge and experience.

In accordance with the Roads preference shares, the dividend rate on the Roads preference share is 6.15% per annum payable quarterly in arrears for the period of June 15, 2018 to the next reset date of June 15, 2019. This figure equals to the one-year swap rate on June 15, 2018 of 2.10% per annum plus the step-up margin of 4.05% per annum.

Downer EDI Limited (ASX: DOW) traded at a market price of $7.215 and has seen a daily price change of $0.095 and 1.334% change in terms of percentage on July 16, 2018. The stock has also seen a performance change of 13.02% over the past 12 months.


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