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South African Equities: Anglo American, Brimstone, Freeworld

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Feb. 18 (Bloomberg) -- South Africa’s FTSE/JSE Africa All Share Index lost 208.88, or 0.6 percent, to 32,514.03 as of 5:00 p.m. close in Johannesburg, extending this week’s declined to 1.3 percent.

The following were among the most active stocks in the South African market today.

Anglo American Plc (AGL SJ), the diversified mining company that makes up 11 percent of South Africa’s benchmark stock index, fell for a fourth day, losing 9.58 rand, or 2.5 percent, to 371.49 rand, the lowest closing level since Feb. 1. Anglo will pay a dividend of $0.40 a share, the company said, compared with an average estimate of $0.53 in a Bloomberg survey of 18 analysts. Anglo will prioritize investments in growth projects over dividends, Chief Executive Officer Cynthia Carroll said.

Brimstone Investment Corp. (BRN SJ), gained 30 cents, or 5.4 percent, to 5.90 rand, the highest closing level since Aug. 31. The investment holding company said earnings per share excluding one-time items probably rose to between 1.62 rand and 1.94 rand in the year to Dec. 31, from 1.31 rand a year earlier.

Freeworld Coatings Ltd. (FWD SJ), a paint supplier, dropped for the fourth day in five, losing 79 cents, or 6.7 percent, to 11.02 rand. The company’s board said it will continue to “monitor developments” regarding Kansai Paint Co. Ltd.’s offer to buy the South African company. The Securities Regulation Panel, which oversees takeovers, yesterday ruled that Kansai’s offer circular contained enough information for Freeworld shareholders to make a decision.

To contact the reporter on this story: Sikonathi Mantshantsha in Johannesburg at smantshantsh@bloomberg.net

To contact the editor responsible for this story: Gavin Serkin at gserkin@bloomberg.net

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