In line with Anglo American Plc's established dividend policy to pay out 40% of underlying earnings, they have approved an interim dividend of 40% of first half underlying earnings, equal to $0.42 per share (30 June 2023: $0.55 per share), equivalent to $0.5 billion (30 June 2023: $0.7 billion).
Other financial highlights include:
- Underlying EBITDA of $5.0 billion: improved cost performance largely offset a 10% lower product basket price
- Copper and Iron Ore performance and margins particularly strong, contributing $3.5 billion of EBITDA
- Unit costs improved by 4%, reflecting weaker currencies, operational improvements and effective cost control
- $0.7 billion loss attributable to equity shareholders, impacted by a $1.6 billion impairment of Woodsmith due to the decision to slowdown the project's development
- Net debt of $11.1 billion, with leverage steady at 1.1x annualised EBITDA
- On track to reduce annual costs by c.$1.7 billion and reduce capex by c.$1.6 billion over 2024-26
