Impala Platinum posts ‘stellar’ results, declares record dividend
(Kitco News) - Buoyed by the high rand PGM basket price, Impala Platinum (Implats) has posted a 328% increase in headline earnings and declared a record interim dividend of R10.00 per share on a strong production, safety and sales performance.
Implats said that its refined 6E PGM production increased by 29% to 1.69 million ounces for the half-year period ended 31 December 2020, with excess identified stock of 100,000 6E ounces expected to be released by the end of FY2021.
The company’s revenue more than doubled to R58.1 billion, gross profit increased to R22.4 billion, EBITDA of R25.1 billion rose three-fold and headline earnings increased by 328% to R14.4 billion. Free cash flow increased four-fold to R20.15 billion.
The Implats board has approved the declaration of an interim cash dividend of R10.00 per ordinary share in terms of the group’s dividend policy, which is aligned with its capital allocation framework.
Implats said it has delivered “stellar” results for the half-year period ended 31 December 2020 despite the challenges presented by navigating Covid-19.
According to Wikipedia, Impala Platinum is a South African mining company that operates mines that produce platinum and platinum group metals, as well as nickel, copper and cobalt. Its most significant mine is the Impala mine in the North West province of South Africa.