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Star South Africa (Digital)

Star South Africa (Digital)

1 Issue, 2025-03-07

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Grindrod cuts dividend by 55% due to border disruptions, commodity prices

Grindrod cuts dividend  by 55% due to border disruptions, commodity prices
Grindrod, the JSE-listed freight logistics company, saw its share price slump more than 6% on Thursday after reporting that core headline earnings fell to R1 billion last year from R1.4bn the year before due in part to border disruptions, lower commodity prices, and flooding. The impact on the group of the intermittent Lebombo/Ressano Garcia border closures in the last quarter of 2024 was 4.4 million tons per year in volume and R200 million on headline earnings. Overall performance was also impacted by lower commodity prices except for chrome, and the disruptive cyclonic flooding in the first half of the year, the group said in results released on Thursday. The final dividend was cut a hefty 55% to 17 cents a share. The share price traded at R12.07 on Thursday afternoon,…
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Star South Africa (Digital) - 1 Issue, 2025-03-07

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