Sydney Airport lifts FY earnings

Sydney Airport (SYD) has flagged an increase in dividend payouts after posting a lift in earnings for 2013.

Sydney Airport (SYD) has flagged an increase in dividend payouts to 23.5 cents per security in 2014, after posting a lift in earnings for 2013.

For the 12 months to December 31, the airport operator booked earnings before interest, tax, depreciation and amortisation of $910.3 million, up 7.3% from the previous year’s $848 million.

Total revenue for the year was $1.11 billion, up slightly from $1.04 billion in 2012.

"2013 has been a year of exceptional achievement and activity," Sydney Airport chief executive officer Kerrie Mather said.

"We delivered a package of strategic initiatives including the acquisition of our minority holdings, resolution of the ATO audit and structural simplification of the company.

"This transformational set of transactions marks the conclusion of a simplification process that commenced in 2009."

The group will pay a final dividend of 11.5 cents per stapled security for the year, unfranked, bringing total dividends to 22.5 cents for the year.