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RBPlats shines with a rewarding R1.5bn maiden annual dividend
By Dineo Faku
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JOHANNESBURG - ROYAL Bafokeng Platinum (RBPlats), which listed on the JSE 10 years ago as the first community company to do so, rewarded shareholders with a maiden R1.5 billion dividend during the 12 months ended December 2020 on the significant growth in its cash flows.
RBPlats, which operates the Bafokeng Rasimone Platinum Mine and Styldrift mines, declared a R5.75 a share dividend equating to R1.5bn as the group rode the wave of the strong platinum group metals (PGM) environment.
The dividend payout was 50 percent of free cash flow, given the strong cash flow generation in 2020, with R3bn of free cash flow before growth capex.