Sibanye to reinstate its cash dividends
JOHANNESBURG – Sibanye-Stillwater yesterday committed to resuming cash dividends in 2020 after the metal prices helped it swing to a R432 million profit for the year to end December from a R2.5billion loss in 2018.
Sibanye-Stillwater chief executive Neal Froneman said that the group prioritised the reinstatement of the cash dividends when it reports its interim results later this year.
“Sibanye-Stillwater expects to resume dividend payments in the first half of 2020, based on the current deleveraging trajectory and subject to current commodity prices,” Froneman said as the company released its solid annual financial results at the JSE.
“Our priority remains to deleverage the balance sheet. We want to get our net debt down.”
Froneman also hinted at the possibility of a special dividend saying it was subject of discussion at board level.
Source: iol.co.za