Yes, an interesting question. Ex div should be about 18 Sept....

Yes, an interesting question. Ex div should be about 18 Sept.

Lazard has been selling off slowly, now perhaps again. MQG has accumulated 19.3% of MQA through its massive management fees. Perhaps lightening up to remain below 20% before receipt of next tranch.

Traffic and revenue continues to increase on its toll roads despite general economic conditions. If it can convert all its loans to 1.125% coupon (as recently) MQA should be sitting very pretty for quite some years yet. Distributions increase reliably each year.

While MQA has been downgraded to neutral by Macquarie, other brokers have increased their target prices:

*DJ Macquarie Atlas Roads Downgraded to Neutral from Outperform by Macquarie

*DJ Macquarie Atlas Roads Price Target Raised 15% to A$6.65/Share by Deutsche Bank

*DJ Macquarie Atlas Roads Price Target Raised 3.9% to A$5.86/Share by Morgans

*DJ Macquarie Atlas Roads Price Target Raised 6.8% to A$5.79/Share by Morgan Stanley

This fits in well with my expectations.

Juke