Anglo-American to return extra $2bn to shareholders after doubling revenue
Anglo-American said that it would return an extra $2bn to shareholders after doubling its revenue in the first half of the year.
The FTSE 100 firm said that revenue had jumped from $10.2bn to $21.8bn in the period, thanks mainly to surging demands for raw materials amid the recovery from the pandemic.
The mining giant added that profit attributable to shareholders had climbed tenfold in the period, from $471m to $5.4bn.
In total, the blue-chip said that it would return $4.1bn to shareholders. It bumped its interim dividend up to $1.71 per share, added a special dividend totalling $1bn and kicked off a share buyback programme worth the same.
The bumper profits came after a period in which Anglo-American demerged its South African thermal coal assets, marking its departure from the polluting mineral.
Chief executive Mark Cutifani said: “The first six months of 2021 have seen strong demand and prices for many of our products as economies begin to recoup lost ground, spurred by stimulus measures across many economies.