News: WES Wesfarmers Declares Final Dividend Of 103 AU Cents Per Share

Aug 25 (Reuters) - Wesfarmers Ltd (WES) :

• DECLARES FINAL DIVIDEND OF 103 (NOT 191) AU CENTS PER SHARE
• GROUP'S LITHIUM BUSINESS IS EXPECTED TO COMMENCE PRODUCTION AND SALE OF SPODUMENE CONCENTRATE DURING 2024 FINANCIAL YEAR
• ELEVATED INFLATION AND HIGHER INTEREST RATES ARE EXPECTED TO CONTINUE TO IMPACT DEMAND IN PARTS OF AUSTRALIAN ECONOMY
• FOR FIRST SEVEN WEEKS OF 2024 FINANCIAL YEAR, SALES GROWTH FOR KMART GROUP HAS CONTINUED TO BENEFIT
• COST PRESSURES IN AUSTRALIA AND NEW ZEALAND ARE EXPECTED TO REMAIN ELEVATED
• SALES GROWTH FOR FIRST SEVEN WEEKS OF 2024 FINANCIAL YEAR IN BUNNINGS REMAINED IN LINE WITH SECOND HALF OF 2023 FINANCIAL YEAR
• OFFICEWORKS' SALES FOR FIRST SEVEN WEEKS WERE IN LINE WITH PRIOR YEAR
• FIRST EARNINGS FROM WESCEF'S LITHIUM BUSINESS ARE EXPECTED IN SECOND HALF OF 2024 FINANCIAL YEAR
• CONSTRUCTION COMPLETED AT MT HOLLAND LITHIUM MINE AND CONCENTRATOR
• EXPECTS NET CAPITAL EXPENDITURE OF BETWEEN A$1,100 MILLION AND A$1,400 MILLION FOR 2024 FINANCIAL YEAR
• TARGET'S TRADING PERFORMANCE IN H1 OF 2024 FY EXPECTED TO REMAIN CONSISTENT WITH TRENDS OBSERVED IN H2 OF 2023 FY
• COMMISSIONING OF CONCENTRATOR UNDERWAY AHEAD OF FIRST EXPECTED EARNINGS FROM PROJECT IN FIRST HALF OF 2024 CALENDAR YEAR AT MT HOLLAND LITHIUM MINE AND CONCENTRATOR
• WESCEF'S SHARE OF SALES VOLUMES FOR 2024 FINANCIAL YEAR REMAINS DEPENDENT ON SUCCESSFUL COMMISSIONING AND PLANNED RAMP-UP OF CONCENTRATOR
• WESCEF'S SHARE OF SALES VOLUMES FOR 2024 FY ANTICIPATED TO BE 50 KILOTONNES BASED ON ASSUMED LITHIUM OXIDE GRADE OF 5.5 PER CENT

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