TER, page-84

TER Dividend size 10 cents in sept unfranked

Coal miner TerraCom (ASX: TER) is looking forward to a “significantly improved” balance sheet for the June quarter, with a forecast operating earnings before interest, tax, depreciation and amortisation (EBITDA) for the period of $224 million.
Underpinning the higher EBITDA forecast is the expectation that 640,000 tonnes of coal from TerraCom’s Blair Athol mine in Queensland will be delivered during the quarter.
Blair Athol alone is anticipated to generate EBITDA of $180 million for the quarter, while coal production in South Africa will contribute about $44 million.
With the strong balance sheet and the forecast June quarter EBITDA, Mr Ransley said the company will be able to recommence dividends to shareholders.
“Based on the forecast, the first dividend to be returned to shareholders is expected to be declared for the period ending 30 June 2022 and estimated to be paid during September 2022.”
He said the company expected to pay an initial unfranked dividend of $0.10 per share.