Sylvinia Platinum plc announces final dividend of 1.6 pence per ordinary share

DividendMax Ltd.

Sylvinia Platinum plc announces final dividend of 1.6 pence per ordinary share

The Sylvinia PLC Board have declared a final dividend of 1.60 pence per ordinary share on 7 September 2020 with a record date of 30 October 2020 and payment date of 4 December 2020.

In addition to the annual dividend paid, the Board recognises that the Company has enjoyed a significant positive cashflow impact as a result of the Palladium and Rhodium prices and has approved a one-off Windfall Dividend of 3.75 pence per ordinary share, payable on 9 April 2021. Payment of the dividend will be made to shareholders on the register at the close of business on 5 March 2021 and the ex-dividend date is 4 March 2021. 

Other financial highlights include:

Sylvania Dump Operations ("SDO") delivered 36,335 4E PGM ounces (HY1 FY2020: 40,003 4E PGM ounces). Good production performance despite lower volumes of fresh arisings and lower PGM feed grades associated with the scale-down at some host mine operations; 

Revenue generated for the period increased 44% to $85.2 million, net of pipeline sales adjustments (HY1 FY2020: $59.0 million), benefitting from the strengthening average gross PGM basket price in HY1 FY2021 of $3,184/oz (HY1 FY2020: $1,830/oz);

Group EBITDA increased 58% to $58.0 million (HY1 FY2020: $36.7 million);

Net profit increased 70% to $40.5 million (HY1 FY2020: $23.9 million);

Cash balance at 31 December 2020 of $67.1 million (HY1 FY2020: $33.8 million);

Bought back 375,652 shares under the Share Buyback Programme, as well as 1,448,075 shares from employees, all transferred to Treasury;

690,000 ordinary shares held in Treasury to be cancelled;

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