Anglo American to get $600mn dividend boost ahead of demerger of platinum arm

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Financial Times 1w ago

Anglo American to get $600mn dividend boost ahead of demerger of platinum arm - Financial Times

Quick Summary:

Anglo American will get a $600mn dividend boost ahead of the spin-off of its platinum arm in the summer.

Earnings at the platinum company fell 40 per cent to $457mn last year, as the price of the basket of metals it sells fell 11 per cent to $1,468 per ounce.

Amplats will list in London after June and will also remain on the Johannesburg Stock Exchange. Miller has ruled out the possibility of the London listing happening earlier.“Given the timeframes that are required for the submission of documentation [and] shareholder approvals, it is unlikely that we will be able to bring forward the secondary listing earlier than the middle of the year,” he said.