Kumba Iron Ore CEO Mpumi Zikalala
Kumba Iron Ore has declared a cash dividend of R7.90 per share for the six months to June 30, 52% lower than the half year payout last year, as the group is focused on cost optimisation, capital allocation discipline, and enhancing cash generation.
"Kumba's first-half performance reflects the impact of a challenging external environment and difficult operating conditions. Despite these headwinds, we delivered EBITDA of R10.9 billion and an EBITDA margin of 35%," said Mpumi Zikalala, the chief executive of the Anglo American subsidiary that mines premium iron ore in the Northern Cape.
She said the strength of their balance sheet and cash generated from operations of R10.1bn, together with the group’s confidence in the long-term fundamentals of the business, had enabled the board to declare an interim dividend of R2.5bn, of which the empowerment partners would receive R800m.
“Our sustainability commitments remain integral to value creation, and we delivered R24bn of enduring shared value to our stakeholders," she said.
