South Africa’s Impala Platinum Lifts Payout on Record Profit
- Full-year total dividend increases fourfold to 22 rand
- Miner sees ‘robust’ medium-term demand from auto industry
The Impala Platinum Holdings Ltd. shaft 9 mine tower in Rustenburg, South Africa.
Photographer: Waldo Swiegers/BloombergThis article is for subscribers only.
Impala Platinum Holdings Ltd. announced a fourfold increase in its dividend after surging platinum-group metals prices yielded a record profit.
Implats, as the Johannesburg-based producer is known, follows Anglo American Platinum Ltd. and Sibanye Stillwater Ltd. in boosting payouts to investors. The final dividend of 9.8 billion rand ($680 million), or 12 rand a share, brings the total payout for the year through June to 22 rand. That’s the equivalent of about 50% of free cash flow.