Sasol amends ‘progressive’ dividend policy, management structures
Petrochemicals group Sasol has amended its “progressive” dividend policy, which sees dividends improved or maintained in line with the company’s earnings, in light of a low oil price environment and current macroeconomic conditions.
“The revised policy is based on a dividend cover range, which will be similar to the dividend cover rates applied from 2008 to 2014.
“The board considers that, in the current environment, this revised dividend policy, together with other [cash-conservation measures], will allow it to execute its growth programme while continuing to return value to shareholders through dividend payouts,” it said in a statement on Monday.
At close of trade on Wednesday, the group’s share price had dropped by 5.95% to R440.97 on the news.
This followed an announcement by the State-owned firm last month that it would implement a 30-month “response plan” to drive yearly savings of some R4-billion.
The plan would involve capital portfolio “phasing and reductions”, capital structuring, working capital improvements and margin enhancements, besides others.
Sasol added on Wednesday that it had made changes to its top management structures as part of an ongoing refinement of its operating model and to enable additional cost reductions.
The group had also decided to combine two of its reportable segments – Southern Africa Energy and International Energy, as well as their associated management structures – into one segment called Energy.
“Given this decision, Sasol’s segmental reporting will now consist of six reportable segments: Mining, Exploration and Production International, Energy, Base Chemicals, Performance Chemicals and Group Functional Support,” it outlined.
Sasol would announce its results for the first half of the 2015 financial year on March 9.
Comments
Research Reports
Projects
Latest Multimedia
Latest News
Showroom
SBS® Tanks is a leading provider of innovative water security solutions with offices in Southern Africa, East and West Africa, the USA and an...
VISIT SHOWROOM
Rooted in the hearts of South Africans, combining technology and a quest for perfection to bring you a battery of peerless standing. Willard...
VISIT SHOWROOM
Press Office
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation
