Merafe cuts production as demand weakens, holds back on dividend

The board of JSE-listed Merafe Resources has decided against declaring an interim dividend owing to prevailing market conditions; however, CEO Zanele Matlala on Monday noted that a final dividend would be considered based on the full-year results. “In the absence of any opportunities, we will continue returning cash to shareholders in line with dividend policy,” she explained in a conference call following the release of the company’s results for the six months to June 30.