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Kazakhmys axes dividend.

Publication: Investors Chronicle - magazine and web content
Publication Date: 28-AUG-09
Format: Online
Delivery: Immediate Online Access

Article Excerpt
Byline: Martin Li

TIP UPDATE: Kazakhmys has axed its half-year dividend in order to help tackle its debt mountain.

The 25 per cent devaluation of the Kazakhstan tenge in February led to a sharp cost reduction that helped miner, Kazakhmys, compensate for some of the impact of significantly lower sales. Net cash costs fell to 76A (47p)...

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