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Amplats pays chunky dividend, but warns Amcu

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Amplats says the strong increase in interim prices and profits does not mean it will ‘embed’ unsustainably high wage increases in its labour costs

Anglo American Platinum CEO Chris Griffith. Picture: TREVOR SAMSON

With headline earnings more than doubling to R7.4bn from R3.36bn, Amplats declared an interim dividend of R3bn, or R11 a share, for the six months to end-June compared with R3.74 each a year earlier.Net cash doubled to R6bn from R2.9bn, with the benefit of a R1.3bn prepayment by customers and cash flows from the operations of R8.8bn.

Amplats CEO Chris Griffith said the effective 45% increase that Amcu had tabled in recent weeks would be deeply damaging and could result in the closure of Amandelbult and the loss of thousands of jobs.

 

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