Anglo American to return $2bn to shareholders as profit soars
Anglo American said it would return $2bn to shareholders as the miner reported a 1,000% increase in first-half profit spurred by rising demand and prices.
Profit attributable to shareholders rose to $5.19bn in the six months to the end of June from $471m a year earlier as revenue jumped 114% to $21.78bn. Anglo American increased its interim dividend by 511% to $1.71 a share.
The FTSE 100 group said it would pay out a further $2bn to shareholders, split equally between £1bn share buyback and a special cash dividend. In total the company will return $4.1bn to shareholders for the first half.
Mark Cutifani, Anglo American's chief executive, 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 the major economies.
"We will return an additional $2bn to shareholders, split equally between a special cash dividend and a share buyback, recognising the different preferences of our shareholders, amounting to a $4.1bn total cash return for the half year."
Anglo American shares rose 3.6% to £32.39 at 08:27 BST. The shares have gained 27% in 2021.