Johannesburg - Johannesburg-listed shares of Anglo American up after company lifts its dividend by 15 percent in a bid to woo investors after its 2012 earnings halved.
The headline numbers were above some analysts' expectations, and the dividend increase cheered investors, despite caution over future payouts.
Deutsche Bank said in a note on the dividend increase: “This was above expectations given the increase in levels of debt and group cash flow. This indicates that the management is focused on controlling project spent and on shareholder value.”
Anglo American is trading 1.3 percent higher at 278.85 rand, outperforming the Top-40 index which was 0.08 percent lower. - Reuters