AngloGold Ashanti to double dividend payout ratio

File: A gold mine. AFP/Rodger Bosch

JOHANNESBURG - Gold producer AngloGold Ashanti will double its dividend payout ratio due to an increase in profit margins.

The good fortune to shareholders also comes with the company’s ongoing reduction in borrowing.

AngloGold will now pay shareholders 20 percent of its free cash flow before accounting for growth capital expenditure.

READ: AngloGold Ashanti moots higher dividend as gold price boosts earnings

That’s up from 10 percent previously.

It will also double the frequency of payouts from the current annual dividend declaration to semi-annual payments.

The mining firm’s net debt is now at the lowest level in almost a decade.

Source
eNCA

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