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;