News: BHP UPDATE 1-Miner Anglo American posts record profit and boosts dividend

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    Global miner Anglo American AAL.L posted record full-year earnings on Thursday, helped by bumper commodity prices, and boosted shareholder payouts for the year to $6.2 billion.

    Anglo declared a final dividend of $2.1 billion, and a special dividend of 0.5 cents per share. Its total $6.2 billion also includes a $1 billion share buyback announced in August.

    Underlying earnings before interest, tax, depreciation and amortisation (EBITDA) rose to $20.6 billion in 2021, up from $9.8 billion the previous year and broadly in line with an average forecast of $20.5 billion from 14 analysts compiled by Vuma.

    "These are clearly the strongest results we have ever posted," Chief Executive Mark Cutifani told reporters.

    "Copper and PGMs (platinum group metals) – essential to the global decarbonisation imperative – and premium quality iron ore for greener steelmaking, supported by an improving market for diamonds, all contributed to a record financial performance," he added.

    Anglo's results are the last of a bumper earnings season that saw rival miners Rio Tinto RIO.L (RIO) , BHP Group (BHP) and Antofagasta ANTO.L return record payouts to shareholders as surging commodity prices buoyed profits.

    The London-listed miner's net debt dropped to $3.8 billion by the end of 2021, down from $5.5 billion a year earlier.

 
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