Omnia mulls special dividend as sale promises to extinguish debt

Chemicals and fertiliser group Omnia is considering a special dividend and share buybacks after accepting a R2.5bn offer for its prized Oro Agri business, a sale which could extinguish debt and leave it with a sizeable war chest.

This could put the group in a position to reward shareholders who were tapped for R2bn via a rights issue in September 2019, as Omnia battled a debt pile that also required it to negotiate new terms with lenders.A subscription helps you enjoy the best of our business content every day along with benefits such as exclusive Financial Times articles, ProfileData financial data, and digital access to the Sunday Times and Sunday Times Daily.

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