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Amsa withholds dividend despite swinging to profit By Dineo Faku Share ARCELORMITTAL South Africa (Amsa), Africa’s biggest steel maker, withheld its interim dividend payout despite swinging to an interim profit and slashing debt during the half year ended June this year. As a result, its shares dipped and ended the day 7.44 percent lower at R6.59 on the JSE yesterday. Chief financial officer Desmond Maharaj told the virtual financial presentation for the six months ended June 2021 that the company had a long way to go before strengthening its balance sheet. “Once we think the balance sheet is strong enough, and resilient enough to handle the various steel cycles, then we will be in a position to have a discussion about when we can resume the dividend,” said Maharaj.

South africaEastern capeAfrica amsaKobus versterDesmond maharajMittal groupகிழக்கு கேப்மிட்டல் குழு