Antofagasta plc announce an interim dividend of 9.2 cents per share

DividendMax Ltd.

Antofagasta plc announce an interim dividend of 9.2 cents per share

The Antofagasta Board has declared an interim ordinary dividend of 9.2 cents per share, equal to a 35% pay-out ratio in both periods and in line with their dividend policy.

Other financial highlights include:

Revenue for the first half of 2022 was $2,528 million, 29.6% lower than the same period in 2021 mainly because of lower copper and by-product sales volumes and lower realised copper prices

EBITDA was $1,238 million, 47.5% lower than in the same period last year on lower revenue and operating costs that increased by 6.9% mainly due to higher input prices

EBITDA margin was 49.0%, compared with 65.6% in H1 2021 and 64.7% for the full year 2021

The Cost and Competitiveness Programme generated savings and productivity improvements of $35 million in the first half of 2022, equivalent to 6c/lb of unit cash costs

Profit before tax was $680 million, a $1,104 million decrease on the same period in 2021

Continuing strong balance sheet with a net debt to EBITDA ratio at the end of the period of 0.13 times. The cash, cash equivalents and liquid investments balance at 30 June 2022 was $2,878 million, a decrease from $3,713 million at the end of 2021, largely reflecting the $1,172 million payment of the 2021 final dividend

Cash flow from operations reduced to $1,683 million compared with $2,461 million in the first half of 2021

Capital expenditure of $831 million was 44% of full year guidance

Earnings per share of 26.4 cents, 41.1 cents lower than the same period in 2021

Companies mentioned