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Kumba dips into reserves to return R9.2bn to shareholders amid earnings plunge | Fin24

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After a challenging half-year, Kumba Iron Ore has dipped into its income reserves to reward shareholders with a R9.2 billion dividend for the six months ended in June. | Fin24

After a challenging half-year, Kumba Iron Ore has dipped into its income reserves to reward shareholders with a R9.2 billion dividend for the six months ended in June.

The company, a subsidiary of Anglo American, declared a dividend of R28.70 per share, representing a payout ratio of 80% of headline earnings. This comprises a gross base dividend of R27.10 per share and a gross top-up dividend of R1.60 per share. The return is, however, markedly lower than the interim cash dividend of R23.4 billion in the first half of 2021.Get 14 days free to read all our investigative and in-depth journalism. Thereafter you will be billed R75 per month. You can cancel anytime and if you cancel within 14 days you won't be billed.

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Fin24 😱

Fin24 They wouldn't deep into reserves to pay their employees these bonuses. These Oppenheimers.

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