Sign up for our free daily newsletter


Get the latest news and some fun stuff
in your inbox every day

Results, dividend up, as good as it gets?

Kumba Iron Ore have reported numbers for the full year to end December 2013. Production was 8 percent lighter than than the prior period, Q4 was much better than Q3 though. Export sales were essentially flat. But the kicker for main shareholder, Anglo American, is that the total dividend in Rand terms is 26 percent higher for the full year at a touch over 40 Rands. A second half dividend of 19.94 ZAR a share. The reason why I make that Rand increase observation is that essentially the Rand is about that much weaker in Dollar terms over the last year, and whilst the company has their product priced in Dollars, they earn Rands. Byron will take a more detailed look at these results tomorrow, I guess that many would be saying that this is as good as it gets.


Other recommended stocks     Other stories about KIO