South32 Ltd (S32) to Issue Dividend Increase – $0.07 Per Share

South32 Ltd (LON:S32) declared a dividend on Thursday, February 14th, Upcoming.Co.Uk reports. Shareholders of record on Thursday, March 7th will be paid a dividend of $0.07 per share on Thursday, April 4th. This represents a dividend yield of 2.56%. The ex-dividend date of this dividend is Thursday, March 7th. This is an increase from South32’s previous dividend of $0.06. The official announcement can be viewed at this link.

Shares of LON:S32 traded up GBX 2.60 ($0.03) on Thursday, reaching GBX 207.80 ($2.72). 1,126,778 shares of the company’s stock were exchanged, compared to its average volume of 3,660,000. South32 has a twelve month low of GBX 143.25 ($1.87) and a twelve month high of GBX 236 ($3.08).

A number of brokerages have issued reports on S32. HSBC upgraded shares of South32 to a “buy” rating and increased their target price for the stock from GBX 225 ($2.94) to GBX 230 ($3.01) in a research report on Wednesday, October 31st. UBS Group restated a “buy” rating on shares of South32 in a research report on Friday, February 8th. Deutsche Bank decreased their target price on shares of South32 from GBX 230 ($3.01) to GBX 225 ($2.94) and set a “buy” rating on the stock in a research report on Friday, January 18th. Finally, Citigroup restated a “buy” rating and set a GBX 250 ($3.27) target price on shares of South32 in a research report on Monday, December 10th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and five have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of GBX 225 ($2.94).

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About South32

South32 Limited operates as a diversified metals and mining company primarily in Australia, Southern Africa, and South America. The company has a portfolio of assets producing alumina, aluminum, bauxite, energy and metallurgical coal, manganese ore and alloy, laterite ferronickel, silver, lead, and zinc.

Further Reading: Convertible Shares

Dividend History for South32 (LON:S32)

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