Antofagasta PLC stated Tuesday that it has determined to chop its really helpful last dividend for 2019 in gentle of heightened coronavirus uncertainty after a rise within the variety of new Covid-19 circumstances in Chile in latest days.
The Chile-based, UK.-listed miner stated it now intends to declare a last dividend of seven.1 cents a share, which represents a discount of 16.three cents a share from its earlier suggestion. It will protect $160.7 million in cash, the corporate stated.
The corporate’s choice comes after the Chilean authorities imposed a complete quarantine over the higher Santiago space. This is not anticipated to have an effect on Antofagasta’s operations, however has created extra uncertainty, the corporate stated. The evolution of the disaster in Chile might lead to an elevated threat of an escalation in quarantine provisions which might prohibit the corporate’s means to maneuver its workforce to and from its operations, it stated.