Exxaro Resources Ltd. Secures Approval for Special Dividend Payout, Sets Record Date for Shareholders

  • Exxaro Resources Limited announces approval and declaration of a special dividend for shareholders, showcasing financial strength and commitment.
  • The company obtains required approval from the South African Reserve Bank, fulfilling conditions for the special dividend declaration.
  • Shareholders are advised of salient dates related to the special dividend, with eligibility for payment on the specified date.

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:

EventDate
Last day to trade cum dividendTuesday, 7 May
First trading day ex dividendWednesday, 8 May
Record dateFriday, 10 May
Payment dateMonday, 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.


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