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JOHANNESBURG - Thungela Resources Limited (JSE:TGA)(LSE:TGA) announced Monday an interim ordinary cash dividend of 200 cents per share and plans for a share repurchase program of up to R140 million.
The coal mining company said the dividend will be paid from retained earnings accrued during the first half of 2025. Shareholders on the South African register will receive payment on September 22, while those on the UK register will be paid on October 6 in British pounds at an exchange rate of GBP1:ZAR23.81456.
The dividend will be subject to a 20% withholding tax for shareholders who are not exempt, resulting in a net dividend of 160 cents per share for affected South African shareholders and 6.72 pence per share for UK shareholders.
Additionally, Thungela will implement a share buyback program beginning August 19, which will run until the company’s next annual general meeting. The repurchases will be conducted on the Johannesburg Stock Exchange through Thungela Operations Proprietary Limited, a subsidiary of the group.
The buyback will be executed under the general authority granted by shareholders at the company’s annual general meeting on June 5, 2025, which allows for repurchasing up to 10% of issued share capital in any financial year.
According to the company’s statement, the maximum price for repurchased shares will not exceed 10% above the volume weighted average trading price on the JSE for the five business days preceding each purchase.
Thungela’s issued share capital at the declaration date stands at 140,492,585 ordinary shares.
The information was disclosed in a press release statement issued by the company.
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