AngloGold Ashanti Reinstates Dividend
- By Alberto Abaterusso
After a little over three-year suspension, AngloGold Ashanti Ltd. (AU) announced it is reinstating its dividend.
The distribution of the dividend is backed by consistent improvements witnessed by the South African miner.
The miner closed fiscal year 2016 with headline earnings, adjusted to one-time charges, of $143 million, a 191.8% increase on a year-over-year basis. In 2015, the company reported adjusted headline earnings of $49 million.
Considering AngloGold Ashanti has approximately 408 million shares outstanding, the adjusted headline earnings per share were 35 cents, a 191.7% increase from 12 cents in 2015.
The company also reported a significant improvement in free cash flow of $278 million, a 97% increase from $141.1 million in 2015.
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industry average of 0.56, indicating AngloGold Ashanti is better positioned than most of its peers.