Exxaro Resources Limited has recently announced the approval and declaration of a special dividend for its shareholders. This significant move reflects the company’s commitment to delivering value to its investors while maintaining a strong financial position.
Special Dividend Declaration
The special dividend, amounting to 572 cents per share, was approved by Exxaro’s board of directors and was subject to obtaining approval from the South African Reserve Bank (SARB). This dividend declaration signifies the company’s strong financial performance and its ability to generate returns for its shareholders.
SARB Approval and Fulfillment of Conditions
Exxaro is pleased to announce that it has obtained the required approval from the South African Reserve Bank for the special dividend declaration. This achievement demonstrates the company’s compliance with regulatory requirements and its commitment to transparent and responsible financial management.
Salient Dates and Payment Details
Shareholders of Exxaro are advised of the salient dates related to the special dividend:
| Event | Date |
|---|---|
| Last day to trade cum dividend | Tuesday, 7 May |
| First trading day ex dividend | Wednesday, 8 May |
| Record date | Friday, 10 May |
| Payment date | Monday, 13 May |
During the period from Wednesday, 8 May to Friday, 10 May, inclusive, no share certificates may be dematerialized or rematerialized.
Implications for Shareholders
Shareholders of Exxaro who hold shares up to the record date of Friday, 10 May, will be eligible to receive the special dividend payment on Monday, 13 May. This dividend payout represents an opportunity for investors to benefit from the company’s success and growth.
Directorship and Governance
Exxaro Resources Limited is governed by a board of directors comprising executive and non-executive directors. The executive team includes N Tsengwa as the chief executive officer and PA Koppeschaar as the finance director. The non-executive directors and independent non-executive directors provide strategic oversight and guidance to ensure the company’s long-term sustainability and value creation for stakeholders.
Conclusion
Exxaro Resources Limited’s announcement of the special dividend approval signifies a positive development for the company and its shareholders. The successful fulfillment of regulatory requirements and the commitment to shareholder value demonstrate Exxaro’s resilience and strategic focus in the dynamic mining industry. Shareholders can look forward to the upcoming dividend payment as a reward for their investment in Exxaro’s growth journey.
