Diversified energy group Exxaro grew its interim dividend for the six months to June more than threefold to 300c from 90c in 2016 due to a higher coal price and a good performance from its subsidiary Cennergi, it says. Chief financial officer Riaan Koppeschaar said on Thursday a detailed announcement would be made in the current quarter on the reference share price for the new black economic empowerment shareholding structure that would replace the 10-year Main Street 333 structure, which matured in 2016. In the six months to June, Exxaro grew revenue 10% to R10.7bn compared with the matching period in 2016, while headline earnings almost trebled to 903c a share from 307c. Investec Securities said glo-bal coal miners were benefiting from a surge in Chinese demand for thermal coal as a crackdown on illegal mining and pollution had coincided with a heatwave and lower generation from its hydropower stations. Exxaro is considering steps to improve its coal portfolio and is disposing of ...
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