Diversified portfolio pays off handsomely
Higher iron ore and PGM prices more than offset stronger rand
African Rainbow Minerals (ARM) stayed true to its custom of balancing growth and rewarding shareholders when it paid a total dividend of R30 a share for the year to June 30 2021.
The dividend was up 150% from R12 a share the previous year. Spurred on by its diversified portfolio of commodities, ARM reported a 136% surge in headline earnings to just over R13bn or R66.88 a share, while earnings before interest, tax, depreciation and amortisation grew 121% to R24.3bn from R11bn last year. ..