H1 FY21 Finance and Cost Analysis
CAPITAL MANAGEMENT PROGRAM
Program is flexible
to efficiently return
excess capital
South32 capital management program
(US$M, LHS; A$/share, RHS)
250
200
150
100
50
10%
US$211M
5%
Results blackout
US$93M
Results blackout
Apr-17 Jun-17 Sep-17 Nov-17
Feb-18
US$154M
special
dividend
US$161M
On-market share buy-back
resumed in October 2020
returning a further US$112M
Program expanded by
US$250M to US$1.68B
US$259M remaining
to be allocated
Shares on issue reduced
by 10% at an average price
of A$2.87/share since the
program commenced
Results blackout
US$167M
Results blackout
US$85M
special
dividend
US$114M
Apr-18 Jul-18 Sep-18
On-market share buy-back
Dec-18 Feb-19
% daily volume purchased
Results blackout
US$192M
Results blackout
US$54M
special
dividend
US$77M
4.50
4.00
3.50
3.00
2.50
2.00
US$112M
1.50
Temporary suspension in
response to COVID-19
May-19
Jul-19
Sep-19
Dec-19 Feb-20
May-20
Jul-20 Oct-20 Dec-20
South32 share price
SLIDE 23
III
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