SA's Exxaro to pay R4.5bn special dividend

The dividend represents R12.55 per Exxaro ordinary share.

Exxaro Resources. Picture: Facebook.

JOHANNESBURG – South African miner Exxaro Resources said on Tuesday it would pay a special dividend of R4.5 billion ($377 million) from its income reserves after the firm sold stake in US titanium products company Tronox.

The dividend represents R12.55 per Exxaro ordinary share.

β€œIn assessing the application of the proceeds realised on the sale, the board of directors of Exxaro considered its growth prospects, future capital commitments, the repayment of debt and the return of capital to its shareholders,” Exxaro said.

Exxaro said in October it had completed the sale of 22.4 million shares in Tronox with net proceeds of $474 million.