BizNis Africa
Latest News
Nigerian Content Development and Monitoring Board signs MOU with CWC Group
The Nigerian Content Development and Monitoring Board (NCDMB) reinforces...
GIBB commits to growing women water entrepreneurs
GIBB, one of South Africa’s leading black-owned multi-disciplinary engineering...
SOUTH32 awards ZAR158 million Coal Contract to black-owned mining company
South32 has awarded a core mining contract to Broad...
Emira honoured by Investment Analysts Society for accurate financial reporting
Emira Property Fund is the winner of the Investment...
South African Auditor-General report indicates poor leadership practices
The local government audit outcomes report for the 2015-16...
Billions held in impact investments in Africa
The 2016 African Investing for Impact Barometer shows that...
How to re-define the future of Real Estate in Africa
Researchers predict that in 2030, Lagos, Cairo and Kinshasa...
Mercer – Cape Town ranks amongst 15 cheapest cities to live in globally
In a rapidly changing world, mobility has become a...
Mastercard Foundation appoints three new Board of Directors members
The MasterCard Foundation today, 21 June 2017, announced the...
Ansys revenue grew by 70% to ZAR806 million
Ansys Limited has today, 21 June 2017, announced its...

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

Fill in your details below and we will secure you a free test drive, delivered to you.

Fill in your details below and we will secure you a free test drive, delivered to you.

%d bloggers like this: