AngloGold Doubles Dividend Payout Ratio as Rally Boosts Cash
- Producer will return 20% of free cash flow to shareholders
- AngloGold’s adjusted net debt falls to lowest level since 2011
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AngloGold Ashanti Ltd. will double its dividend payout ratio after gold prices surged this year and the company’s borrowings fell to the lowest in nearly a decade.
AngloGold rose the most in three months in Johannesburg after the world’s third-largest gold producer said it will now return 20% of free cash flow before growth capital to shareholders. The payout frequency was also doubled to twice a year. Free cash flow rose nearly fourfold to $339 million in the three months through September.