RIGHTS ISSUE SHELVED
Comeback kid Sasol delays payouts
The group has turned the corner as it reaps the rewards of its crisis response
Even as Sasol shareholders have been spared an unpopular, dilutive rights issue as their company reduced its debilitating debt burden, CEO Fleetwood Grobler says dividend payouts are probably two years away.
"We’ve still got quite a bit to do, but I’m encouraged by Team Sasol in terms of what we did achieve to be able to post these results," Grobler told Business Day in an interview shortly after the company posted a more than three-fold jump in half-year earnings to R15.3bn and slashed its debt by a third to R126.3bn...