JSE-listed miner Kumba Iron Ore delivered a payout ratio of 92% of headline earnings per share (HEPS) for the year ended December 31, exceeding its 50% to 75% dividend payout policy.
The company declared a final cash dividend of R15.99 apiece, which, combined with the interim dividend of R30.79 apiece, amounted to a total dividend of R46.78 apiece, compared with the total dividend of R30.24 apiece in the year ended December 31, 2018.