LONDON, March 18 Chilean copper miner
Antofagasta announced on Tuesday a better than expected
dividend for 2013 although falling metal prices and soaring
costs offset an increase in output and hit its annual core
The London-listed miner said it will pay a final dividend
of 86.1 cents per share, representing a pay-out ratio for the
year of 142 percent of earnings, well above an anticipated
return to the minimum 35 percent payout.
The miner said annual core profit, or earnings before
interest, tax, depreciation and amortisation (EBITDA), was $2.7
billion, slightly below a company-provided analyst consensus of
$2.74 billion and down from $3.83 billion a year ago.
In January, Antofagasta reported a 1.6 percent rise in its
2013 production to 721,200 tonnes and estimated it would produce
700,000 tonnes of copper this year, a repeat of its 2013
Copper prices on the London Metal Exchange fell by
more than 7 percent last year on concerns over economic growth
in top metals consumer China.