Anglo American Platinum declares special dividend amid strong growth in H1

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Mining giant Anglo American Platinum declared a special dividend after reporting a jump in core earnings as revenue was bolstered by rising commodity prices and increased production in the first half of the year.

For the first half of thee year, adjusted earnings before interest taxes, depreciation, and amortization, or EBITDA, rose 385% to 63.3 billion rand year-on-year as revenue rose 155% to 107.5 billion rand.

Total precious group metals, or PGM, production increased by 28%, refined production increased 128%, following 'proven operational stability at the ACP which is performing ahead of plan,' the company said.

'The fundamentals for our PGMs and base metals remain robust, with a 29% increase in the Rand basket price,' it added.

'We have declared dividends in respect of H1 2021 consisting of both a base dividend and special dividend amounting to R46.4 billion, R175 per share or a 100% pay-out ratio of headline earnings.'