Exxaro pays dividend on 40%-higher half-year earnings

Black-empowered diversified resources group Exxaro Resources on Thursday declared an interim dividend on posting a 40% increase in earnings before interest tax depreciation and amortisation of R3.9-billion for the six months to June 30. In the face of global trade tensions, a challenging local economy and declining thermal coal pricing, the consolidated half-year revenue of the JSE-listed company, headed by CEO Mxolisi Mgojo, was up 18% on the corresponding period of last year to R14-billion. “Despite sustained global and domestic economic headwinds, compounded by market challenges and Covid-19, Exxaro maintained a resilient financial and operational performance, continuing our positive trajectory year-on-year,” Mgojo stated in a release.