Can anyone clarify the Mittal dividend?

[asylum]

The ordinary interim dividend of R2,33 a share will cost the company R1,1bn. The other R6,3bn (R14,25 a share) breaks down into a capital reduction of R4,5bn and a further distribution of R1,8bn to be approved at the AGM. Does that mean they are paying a dividend of R 16.58 or am i dreaming?

[asylum]

ANYONE? no. ok.

[dilligaff]

I've assumed (and we know what that means!) that you effectively get R16.55 as the divie :)

[john_1]

I think the markets lack of reaction says otherwise.

[dilligaff]

Found some clarity in ISPR's research note:-
......1021c of which will be paid at the same time as the ordinary dividend payment of 233c (LDT 24-Aug) .............

[asylum]

Thanks dilligaf so that is +- 10 % of current share price. Not too shaby.

[SimonPB]

john, well mittal was up on Wednesday when the average down was around 3%.