Anglo American Platinum Declares Additional Cash Payout Ahead of Parent Company Exit
Anglo American Platinum Ltd. (Amplats) has announced an additional cash payout of 15.7 billion rand ($856 million) in anticipation of its parent company Anglo American Plc.'s exit.
The extra payment brings the total dividend for 2024 to 71.75 rand per share, Amplats, which is listed on the Johannesburg Stock Exchange, said in a statement on Monday.
Anglo American revealed plans to divest its controlling stake in Amplats last May. This move is part of a broader restructuring program initiated in response to an unsolicited takeover offer of $49 billion from BHP Group. Anglo has since sold a portion of its Amplats stake to enhance the South African unit's free float before a complete exit.