Anglo Pacific achieves record royalty income
The commodities royalites firm Anglo Pacific says royalty income rose 17% through 2011, giving it headroom to raise the final dividend by 7.8%.
The commodities royalites firm Anglo Pacific says royalty income rose 17% through 2011, giving it headroom to raise the final dividend by 7.8%.
Anglo Pacific makes money by taking stakes in natural resource projects, usually early in the development stage, and then derives a royalty income when the mine swings into production.
In 2011 it received £35.1m in royalties, up from £30.1m in 2010. The final dividend will rise to 5.5p per share versus the 5.1p paid in 2010. The total dividend has risen 7.7% to 9.75p per share.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE

Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Anglo Pacific also saw operating profit rise to £32.3m compared to £27.9m in the prior year although sales of mining and exploration interests were down 51% to £20.3m. That slow down in sales reduced profits before tax to £49m, a fall of 26%.
Profits attributable to shareholders were £36.7m in 2011 compared to the £56.3m achieved in 2010. Earnings per share fell from 51.99p to 33.87p, a drop of 35%.
Anglo Pacific's Chairman, Peter Boycott said of the results:
"We are pleased to announce a record year for our royalty income, as Anglo Pacific continues to make progress with its strategy of developing a leading portfolio of royalties. During the year we have increased and diversified our portfolio with three new royalties, further delivering on our stated strategy."
The group's shares gained 1.6% at the open. Over the past 12 months the stock has fallen 2.5%.
BS
Get the latest financial news, insights and expert analysis from our award-winning MoneyWeek team, to help you understand what really matters when it comes to your finances.
MoneyWeek is written by a team of experienced and award-winning journalists, plus expert columnists. As well as daily digital news and features, MoneyWeek also publishes a weekly magazine, covering investing and personal finance. From share tips, pensions, gold to practical investment tips - we provide a round-up to help you make money and keep it.
-
NS&I cuts interest rates on 7 savings products – full list of changes
The cut means NS&I’s savings bonds are far less competitive than other fixed term bonds on the market. We look at what’s changed.
-
Cash ISA changes: Can Reeves create the culture shift needed to get savers to start investing?
Opinion Rachel Reeves will reportedly cut the cash ISA allowance this month - but, without a significant campaign to encourage investing, a limit on cash ISAs will not shift the deep and culturally embedded mindset that stops people from investing in the first place, says Kalpana Fitzpatrick