Anglo American Platinum announces dividend and demerger plans
Anglo American Platinum said Monday that it would pay out an additional cash dividend before a demerger that will see it become a standalone company.
The additional dividend will amount to 59 South African rand ($3.21) per share, with the payout totaling 15.7 billion rand. It will be in addition to the 2024 shareholder payout, which will amount to 800 million rand.
If approved by shareholders at Anglo American’s annual general meeting in April, Anglo American Platinum will be spun off into a standalone unit in June. The company will have a primary listing on the Johannesburg Stock Exchange and a secondary listing in London, it said on Monday.
Anglo American intends to retain a 19.9% share in Anglo American Platinum, Anglo American CEO Duncan Wanblad said in a news release on Monday.
Anglo American Platinum on Monday reported a 40% year-on-year drop in profit on Monday, with full-year profit for 2024 coming in at 8.4 billion rand. A decline in South African platinum prices were cited as driving the decline.
Anglo American shares were up 0.4% at 8:16 a.m. London time.
— Chloe Taylor
European markets: Here are the opening calls
European markets are expected to open in mixed territory Monday.
The U.K.’s FTSE 100 index is expected to open 1 point lower at 8,718, Germany’s DAX up 40 points at 22,513, France’s CAC up 8 points at 8,181 and Italy’s FTSE MIB 19 points lower at 38,044, according to data from IG.
There are no major earnings or data releases Monday.
— Holly Ellyatt
