South32 Limited (DI) (S32)

Sector:

Mining

 220.00p
   
  • Change Today:
      0.000p
  • 52 Week High: 303.50
  • 52 Week Low: 145.80
  • Currency: UK Pounds
  • Shares Issued: 4,628.43m
  • Volume: 686,372
  • Market Cap: £10,182m

South32 ups dividend and buyback as profit surges

By Sean Farrell

Date: Thursday 17 Feb 2022

LONDON (ShareCast) - (Sharecast News) - South32 announced a big increase to its dividend and added to its share buyback after rising commodity prices fuelled a surge in first-half profit at the mining group.


Pretax profit for the six months to the end of December rose to $1.5bn (£1.1bn) from $170m a year earlier as underlying revenue increased 32% to $4.6bn. The company's operating margin rose to a record 44% from 24% a year earlier.

South32 increased its dividend to 8.7p a share from 1.4p and increased its buyback target by $110m to $2.1bn, leaving $302m to be returned to shareholders. Commodity producers' profits are booming as economies recover from the Covid-19 crisis, fuelling demand for metals, oil and other raw materials.

The company reported strong production at several of its sites including Brazil Alumina, South Africa Manganese and Worsley Alumina. The company increased annual production guidance for silver and lead by 5% at its Australian Cannington mine.

Graham Kerr, Group32's chief executive, said: "Looking ahead, we are well positioned to capitalise on current market conditions as countries continue their economic recovery from Covid-19, and into the future as they invest in new infrastructure that is expected to see continued growth in demand for the metals critical for a low carbon future."

South32 shares rose 3.6% to 242.50 at 10:55 GMT.

Email this article to a friend

or share it with one of these popular networks:


Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

 

S32 Market Data

Currency UK Pounds
Share Price 220.00p
Change Today 0.000p
% Change 0.00 %
52 Week High 303.50
52 Week Low 145.80
Volume 686,372
Shares Issued 4,628.43m
Market Cap £10,182m

S32 Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
84.99% above the market average84.99% above the market average84.99% above the market average84.99% above the market average84.99% above the market average
62.5% below the sector average62.5% below the sector average62.5% below the sector average62.5% below the sector average62.5% below the sector average
Price Trend
89.71% above the market average89.71% above the market average89.71% above the market average89.71% above the market average89.71% above the market average
71.43% above the sector average71.43% above the sector average71.43% above the sector average71.43% above the sector average71.43% above the sector average
Income
75.35% above the market average75.35% above the market average75.35% above the market average75.35% above the market average75.35% above the market average
Sector averageSector averageSector averageSector averageSector average
Growth
63.64% below the market average63.64% below the market average63.64% below the market average63.64% below the market average63.64% below the market average
100% below the sector average100% below the sector average100% below the sector average100% below the sector average100% below the sector average

What The Brokers Say

Strong Buy 14
Buy 0
Neutral 5
Sell 0
Strong Sell 0
Total 19
buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

S32 Dividends

  Latest Previous
  Interim Final
Ex-Div 10-Mar-22 09-Sep-21
Paid 07-Apr-22 07-Oct-21
Amount 8.70¢ 3.50¢

Trades for 01-Jul-2022

Time Volume / Share Price
16:35 171,167 @ 220.00p
16:25 4,000 @ 220.62p
16:25 450 @ 221.00p
16:25 800 @ 221.00p
16:20 666 @ 221.50p

S32 Key Personnel

Chair Karen Wood

Top of Page