BizNis Africa
Latest News
Digitata Insights partners with Ntare Insights in Rwanda
Digitata Insights, a Pan-African mobile intelligence and digital media...
Digital homes across Africa to reach 75 million by 2021
It has been two years since the digital migration...
SA REITs makes 12% of the Top 100 Companies
South African REITs (real estate investment trusts) once again ranked...
Mercer officially launches Francophone Africa Hub in Morocco
Mercer, a global consulting company in health, wealth and...
MTN Benin CEO ordered by government to leave the country
MTN Group confirms that Stephen Blewett, MTN Benin Chief...
Afreximbank raises $150 million for Samurai loan facility
The African Export-Import Bank (Afreximbank) has successfully completed its...
About 90% of imports and exports in Africa driven by sea
Statistics indicate that 90% of imports and exports in...
Altron sells Powertech Transformers stake for ZAR250 million
Allied Electronics Corporation Limited (Altron), a Johannesburg Stock Exchange...
BCX appoints Rapelang Rabana as new Chief Digital Officer
Today, marks a significant shift on Rekindle Learning’s journey....
How to prevent commercial identity theft
The recent data breach where a wide range of...

Graham Kerr, South32 Chief Executive Officer

South32 Limited today, 27 March 2017, announced that it intends to return an additional $500 million to shareholders, equating to 4.5% of the Group’s current market capitalization.

This capital management program, which complements the Group’s dividend policy, will initially take the form of an on-market share buy-back in Australia.

“The combination of our operating leverage, strong balance sheet and simple capital management framework is designed to maximise returns and reward shareholders as financial performance improves. Today’s announcement further demonstrates our disciplined approach to capital management and our confidence in the Group’s cash generating capacity,” says David Crawford, South32 Chairman.

“Our net cash balance continues to build giving us the financial strength and flexibility to invest in our existing operations, pursue opportunities where we can create value and return excess capital to shareholders. This $500 million capital management program meaningfully increases shareholder returns and follows the recent announcement of our US$192M interim dividend,” says Graham Kerr, South32 Chief Executive Officer.

The $500 million capital management program is expected to be completed over a 12 month period and all alternatives will continue to be assessed to ensure this capital is returned in an efficient manner.

Leave a Reply

Ver peliculas online
%d bloggers like this: