SA’s largest iron ore producer benefits from surging steel prices
SA’s largest iron producer Kumba Iron Ore increased its total dividend for 2021 by more than two thirds, with surging steel and commodity prices lifting margins and helping the group generate a record core profit.
Earnings before interest, taxation, depreciation and amortisation , or core profit, rose 41% to R64.6bn in the year to end-December, with Kumba increasing its total dividend 69% to R103.20 a share — about a R33bn payout...A subscription helps you enjoy the best of our business content every day along with benefits such as articles from our international business news partners; ProfileData financial data; and digital access to the Sunday Times and Sunday Times Daily.
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