South32 Ltd (ASX: S32) announces bumper dividend following exceptional FY22 results

The ASX-listed mining company South32 Ltd (ASX: S32) announced its results financial results and outlook for the year ended 30 June 2022. The company's underlying earnings grew as high as 432% during the period. South32's underlying revenue increased 45% to US$10,630 million. Given the company's exceptional results, South32 has decided to pay a US$648 million fully-franked final dividend for H2 FY22 and a US$139 million fully-franked special dividend. This will take the shareholder returns to a record US$1.3 billion in the financial year 2022. 

Few details from the company's FY22 results include:

• Underlying earnings of US$2.6 billion & free cash flow from operations of US$2.6 billion.
• Record shareholder returns in FY22 of US$1.3 billion equal 10% of the company's market cap.
• Group copper equivalent production is likely to increase by 14% in FY23
• The company has a solid balance sheet with net cash of US$538 million after funding its new investments during the year.
• The Group delivered a 30.1% Return on Invested Capital (ROIC). 

S32 shares were seen trading 3.546% higher at AU$4.380 per share on ASX at 10:13 AM AEST today.

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