LONDON (dpa-AFX) - Anglo American Plc (AAUKY.PK, AAL.L), a British mining company, said on Monday that it has made significant progress towards its demerger of Anglo American Platinum Limited, a platinum group metals, or PGMs.
In addition, Anglo American Platinum has announced its final dividend for 2024 and an additional cash dividend, together totaling R16.5 billion or around $0.9 billion, which will be paid to all Anglo American Platinum shareholders ahead of the demerger.
With this, Anglo American, with around 67 percent of the shares in Anglo American Platinum, expects to receive around $0.6 billion from these dividends.
The payment of the additional cash dividend forms part of Anglo American Platinum's finalization of its standalone capital structure.
Duncan Wanblad, Chief Executive of Anglo American, said: 'We are on a clear timeline towards demerging Anglo American Platinum - the world's leading PGMs producer - in June, with its primary listing on the Johannesburg Stock Exchange and an additional listing on the London Stock Exchange. Consistent with our commitment to deliver a responsible demerger, Anglo American intends to retain a 19.9% shareholding in Anglo American Platinum.'
For the full-year 2024, Anglo American Platinum recorded headline earnings of R8.4 billion or R32.05 per share with revenue of R109 billion.
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