Anglo American Platinum has announced a massive dividend payout of R15.7 billion (approximately $856 million USD) to its shareholders. This brings the total dividend for 2024 to R71.75 per share.
The company is preparing for a major change, as its parent company Anglo American plans to sell its controlling stake in Anglo American Platinum. This is part of a larger restructuring plan announced last year.
Anglo American has already sold some of its shares in Anglo American Platinum to increase the company’s independence. The demerger is expected to be completed by June this year, with Anglo American reducing its stake in Anglo American Platinum to 19.9% from around 67%.
Anglo American Platinum’s profit fell by 45% to R7.1 billion last year, due to a decline in the price of palladium and rhodium. Despite this, the company is confident about its future prospects and is committed to returning value to its shareholders.