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Anglo American hikes dividend on second-half recovery as commodity prices rise

By BFN News | 08:32 AM | Thursday 25 February, 2021


Mining giant Anglo American hiked its dividend as rising commodity prices helped spark a second half recovery and steady annual results. For the year ended 31 December, underlying earnings before interest taxes depreciation and amortisation decreased by 2% to $9.8 billion year-on-year. The company said 'the increase in the price for the group's basket of products, favourable exchange rates and cost saving initiatives,' helped steady performance following a weaker first half. 'Covid-19 lockdowns across southern Africa in the first half of the year impacted production at PGMs, Kumba, De Beers and thermal coal,' but the company returned to 'more normal operating levels in the second half of the year,' Anglo American said. The final dividend was increased by 53% to 72 cents per share. For 2021, the company forecast higher diamond production of 32-34 million carats, driven by an expected increase in ore and improved grade performance at both Jwaneng and Venetia. At 8:32am: (LON:AAL) Anglo American PLC share price was 0p at 2094p Story provided by StockMarketWire.com

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