Exxaro declares record interim dividend as it cashes in on higher iron ore prices

📆 2021/08/15 07:14:00

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📆 2021/08/15 07:14:00
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The group’s interim payout to external shareholders beats the ordinary final dividend for its 2020 year, which was also a record

Exxaro, the largest supplier of coal to Eskom, has opted to pay out R5.07bn to external shareholders in a record interim dividend, as robust coal and iron ore prices helped offset transport woes and the effects of Covid-19 during its six months to end-June.

A surge in pricing for iron ore and coal helped the group grow its revenue by 8% to R15.1bn in its half-year to end-June, with headline earnings more than doubling to R6.8bn, even as transport issues helped prompt a decline in coal sales...A subscription helps you enjoy the best of our business content every day along with benefits such as articles from our international business news partners; ProfileData financial data; and digital access to the Sunday Times and Sunday Times Daily.

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