Results: OZ Minerals Rewards Shareholders
Shareholders who stuck with OZ Minerals through the dark days of 2008-09, or who bought the shares in 2009 amid considerable scepticism about whether it would survive, will get a nice fat payoff after the boom 2010 financial year result.
A huge profit, higher dividend, capital return, consolidation of shares to boost the share price and a buyback.
All up more than $900 million in dividends, the capital return and share buyback will have been delivered to shareholders by mid-year.
There's the $123 million already paid in the interim dividend and the $223 million to be paid in the final in the next month.
The capital return will absorb nearly $390 million and the consolidation will be done in the ratio of ten for one (which should boost the share price considerably.
After that is completed the company will run a $200 million share buyback.
With the