LONDON (dpa-AFX) - Anglo American Platinum reported that its earnings before interest, tax, depreciation and amortisation or EBITDA for fiscal year 2019 more than doubled to R30.0 billion from last year.
Headline earnings per share increased 145% to R70.87 per share from the previous year.
A cash dividend of R11.2 billion, or R41.60 per share was declared for the second half of 2019, based on the company's dividend policy of 40% of headline earnings of R16.60 per share, plus a special dividend of R25.00 per share.
PGM production guidance (metal-in-concentrate) is 4.2 - 4.6 million PGM ounces for 2020, with refined production expected to be higher at 4.2 - 4.7 million PGM ounces due to the build-up in work-in-progress inventory, owing to the power outages in the fourth quarter of 2019. Sales volumes will be in line with refined production.
Anglo American Platinum Limited said that Chris Griffith will step down as Chief Executive Officer and executive director at the company's AGM in April. His successor, who is expected to be an internal candidate from within the Anglo American group, will be announced in the near future.
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