Fuel retailer Ampol posts record full-year profit

Fuel giant Ampol has announced record full-year earnings, doubling its shareholder dividend and delivering an additional 50c special payout.

The company, previously known as Caltex, posted a net profit after tax just shy of $760 million, an increase of 42 per cent compared to 2021.

High refining margins and its best convenience retail earnings in five years will mean a final ordinary dividend of $A1.05 per share declared and full year ordinary dividends of $A2.25 cents per share, fully franked.

The additional special dividend will take total dividends to $A2.75 cents per share.

Managing Director and CEO Matt Halliday declared 2022 “another very successful year for Ampol as the integrated supply chain combined to deliver a record financial result and supported the declaration of record shareholder dividends”.

“At the same time, we are continuing to deliver on our strategic priorities,” Mr Halliday said in a statement.

“The rebrand to Ampol is now complete, we have achieved the Convenience Retail non-fuel RCOP Earnings Before Interest and Taxes  uplift target ahead of schedule and the acquisition of (New Zealand distributor) Z Energy has delivered on our international growth ambitions.”