Montauk, the US-based alternative energy producer spun out from Hosken Consolidated Investments in late 2014, will pay a maiden dividend for the year to the end of March. On Friday, Montauk – which produces renewable gas and electricity from landfill sites — declared a 39.5c per share dividend after pre-tax profits rocketed 579% to $15.7m. The company reported a 65% rise in revenue from its renewable natural gas facilities on the back of a 10% increase in renewable gas volumes to 3.9-million BTU (British thermal units). Montauk also sold 24-million RINs (renewable identification numbers) — about 10-million down on the previous financial year. But the average pricing realised on RIN sales was 90.1% higher. The environmental benefits from renewable natural gas production at landfills qualify as a RIN under the US Renewable Fuel Standard (RFS) programme. Montauk CEO Martin Ryan reiterated that with electricity and natural gas commodity pricing in the US depressed for several years, the...

BL Premium

This article is reserved for our subscribers.

A subscription helps you enjoy the best of our business content every day along with benefits such as exclusive Financial Times articles, Morningstar financial data, and digital access to the Sunday Times and Times Select.

Already subscribed? Simply sign in below.



Questions or problems? Email helpdesk@businesslive.co.za or call 0860 52 52 00.