On 7 September 2020, the Sylvania Board declared a final dividend of 1.6p per Ordinary Share, with a record date of 30 October 2020 and payment date of 4 December 2020.
In addition to the annual dividend paid, the Board recognised that the Company had enjoyed a significant positive cashflow impact as a result of the palladium and rhodium prices and approved a windfall dividend of 3.75p per Ordinary Share in February 2021, with a record date of 5 March 2021 and which was paid on 9 April 2021.
The Board has now declared the payment of a cash dividend for FY2021 of 4p per Ordinary Share, payable on 3 December 2021. Payment of the dividend will be made to Shareholders on the register at the close of business on 29 October 2021 and the ex-dividend date is 28 October 2021
Other financial highlights include:
- Sylvania Dump Operations ("SDO") achieved target production of 70,043 4E PGM ounces for the year (FY2020: 69,026 4E PGM ounces);
- Net revenue increased 79% to $206.1 million (FY2020: $115.1 million);
- Adjusted Group EBITDA increased 108% to $144.9 million (FY2020: $69.6 million);
- Group net profit increased 143% to $99.8 million (FY2020: $41.0 million);
- Basic earnings per share ("EPS") increased 151% to 36.65 US cents per share (FY2020: 14.62 US cents per share);
- Positive Group cash balance of $106.1 million with no debt and no pipeline financing.