WESCOAL has finalised its dividend payout for the year to end-March at just under 4.21c per ordinary share.The junior coal miner said when it released its results in June that it would pay R10m in dividends, as it reported that aftertax profit jumped 79% to R52m even though turnover fell 5% to R1.59bn.Wescoal did not pay a dividend last year, and the announcement that it would do so this year was unusual in a sector reeling from low prices, falling Chinese exports and rising US exports, and demand that is under pressure from environmental concerns.READ THIS: Wescoal spreads cash flow bountyThe dividend will be paid on September 26, Wescoal said in a Sens statement on Friday.
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.