AYABONGA CAWE: We need all boats to rise with the earnings tide
SA is indeed a world of contrasts. Looking at Business Day on Friday, one couldn’t help but notice the front-page story about Anglo American giving back $7.2bn (R110bn) to shareholders in 2021/2022, via a generous dividend and $1bn share buyback programme.
They are certainly in good company. Sibanye-Stillwater told the market in June 2021 that it would buy back up to 5% of its stock, and by October had spent R8.1bn doing that. Add to this the R8.54bn dividend paid out, just over a third of group profit to end-June 2021. In sum, in the second part of 2021 over R16bn had been paid back to Sibanye shareholders...
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