The Group’s dividend policy is to return between 25% to 35% of normalised earnings to shareholders and after due consideration of future requirements the dividend may be increased beyond these levels.
The Board, consistently considers normalised earnings in determining what value will be distributed to shareholders. The Board believes normalised earnings provides useful information to investors regarding the extent to which results of operations may affect shareholder returns. Normalised earnings is defined as earnings attributable to the owners of Sibanye-Stillwater excluding gains and losses on financial instruments and foreign exchange differences, impairments and related compensation, gain/loss on disposal of property, plant and equipment, occupational healthcare expenses, restructuring costs, transactions costs, share-based payment expenses on B-BBEE transactions, gains on acquisitions, net other business development costs, share of results of equity-accounted investees, all after tax and the impact of non-controlling interest, and changes in the estimated deferred tax rate.
The Sibanye-Stillwater board of directors declared and approved a cash dividend of 201 SA cents per ordinary share (US 12.43 cents* per share or US 49.73 cents* per ADR) or approximately R5,685 million (US$352 million*) in respect of the six months ended 30 June 2026 (Interim dividend). The interim dividend declared of 201 SA cents equates to 35% of normalised earnings for the period ended June 2026. The interim dividend will be subject to the Dividends Withholding Tax.
Shareholders are advised of the following dates:
- Final dividend: 201 SA cents per share
- Declaration date: Tuesday, 1 September 2026
- Last date to trade cum dividend: Tuesday, 15 September 2026
- Shares commence trading ex-dividend: Wednesday, 16 September 2026
- Record date: Wednesday, 16 September 2026
- Payment of dividend: Monday, 21 September 2026
To holders of American Depositary Receipts (ADRs):
- Each ADR represents 4 ordinary shares
- ADRs trade ex-dividend on the New York Stock Exchange (NYSE): Friday, 18 September 2026;
- ADR Record Friday, 18 September 2026;
- Approximate date of currency conversion: Monday, 21 September 2026;
- ADR payment date of dividend: Wednesday, 6 October 2026
Please note that share certificates may not be dematerialised or rematerialised between Wednesday, 16 September 2026 and Friday, 18 September 2026 both dates inclusive.
* Based on an exchange rate of R16.1687/US$ at 28 August 2026 from Equity RT. However, the actual rate of payment will depend on the exchange rate on the date for currency conversion
The Sibanye-Stillwater board of directors has declared and approved a cash dividend of 131 SA cents per ordinary share (US 8.17 cents* per share or US 32.68 cents* per ADR) or approximately R3,697 million (US$231 million*) in respect of the six months ended 31 December 2025 (Final dividend) (31 December 2024: No dividend declared). The Board applied the solvency and liquidity test and reasonably concluded that the Company and Group is and will be solvent and liquid as required by the Companies Act in South Africa, before and immediately after completing the proposed Distribution.
Shareholders are advised of the following dates:
- Final dividend: 131 SA cents per share
- Declaration date: Friday, 20 February 2026
- Last date to trade cum dividend: Tuesday, 17 March 2026
- Shares commence trading ex-dividend: Wednesday, 18 March 2026
- Record date: Friday, 20 March 2026
- Payment of dividend: Monday, 23 March 2026
To holders of American Depositary Receipts (ADRs):
- Each ADR represents 4 ordinary shares
- ADRs trade ex-dividend on the New York Stock Exchange (NYSE): Thursday, 19 March 2026;
- Record Friday, 20 March 2026;
- Approximate date of currency conversion: Monday, 23 March 2026; and
- Approximate payment date of dividend: Monday, 6 April 2026
Please note that share certificates may not be dematerialised or rematerialised between Wednesday, 18 March 2026 and Friday, 20 March 2026 both dates inclusive.
* Assuming an exchange rate of R16.0348/US$1*, the dividend payable on an ADR is equivalent to 26.14 United States cents for Shareholders liable to pay dividend withholding tax. However, the actual rate of payment will depend on the exchange rate on the date for currency conversion.
In line with Sibanye-Stillwater’s dividend policy and Capital Allocation Framework, the Board of Directors resolved not to declare a final dividend (2022: 122 SA cents per share). With the interim dividend of 53 (2022: 138) SA cents per share, which was declared and paid, this brings the total dividend for the year ended 31 December 2023 to 53 (2022: 260) SA cents per share.
The Sibanye-Stillwater board of directors has declared and approved a cash dividend of 53 SA cents per ordinary share (2.7983 US cents* per share or US 11.1932 cents* per ADR) or approximately R1,500 million (US$79 million*) in respect of the six months ended 30 June 2023 (Interim dividend). The Board applied the solvency and liquidity test and reasonably concluded that the company will satisfy that test immediately after completing the proposed distribution.
Shareholders are advised of the following dates:
- Interim dividend: 53 SA cents per share
- Declaration date: Tuesday, 29 August 2023
- Last date to trade cum dividend: Tuesday, 19 September 2023
- Shares commence trading ex-dividend: Wednesday, 20 September 2023
- Record date: Friday, 22 September 2023
- Payment of dividend: Tuesday, 26 September 2023
To holders of American Depositary Receipts (ADRs):
- Each ADR represents 4 ordinary shares
- ADRs trade ex-dividend on the New York Stock Exchange (NYSE): Thursday, 21 September 2023;
- Record date: Friday, 22 September 2023;
- Approximate date of currency conversion: Tuesday, 27 September 2023; and
- Approximate payment date of dividend: Tuesday, 10 October 2023
Please note that share certificates may not be dematerialised or rematerialised between Wednesday, 20 September 2023 and Friday, 22 September 2023 both dates inclusive.
* Based on an exchange rate of R18.9400/US$ at 22 August 2023 from EquityRT. However, the actual rate of payment will depend on the exchange rate on the date for currency conversion.
The Board approved a final dividend for H2 2022 of R3.5 billion (US$191 million) or 122 SA cents per share (26.98 US cents* per ADR), which is at the upper end of the Group dividend policy range of 25% to 35% of normalised earnings. Together with the interim dividend of R3.9 billion (US$230 million) (138 SA cents per share/32.4640 US cents per ADR) for H1 2022, this represents a leading annual dividend yield of 6% for 2022 (at the closing JSE share price of R44.72/share on 31 December 2022).
Shareholders are advised of the following dates in respect of the final dividend:
- Final dividend: 122 SA cents per share
- Declaration date: Tuesday, 28 February 2023
- Last date to trade cum dividend: Monday, 20 March 2023
- Shares commence trading ex-dividend: Wednesday, 22 March 2023
- Record date: Friday, 24 March 2023
- Payment of dividend: Monday, 27 March 2023
To holders of American Depositary Receipts (ADRs):
- Each ADR represents 4 ordinary shares;
- ADRs trade ex-dividend on the New York Stock Exchange (NYSE): Thursday, 23 March 2023;
- Record Friday, 24 March 2023;
- Approximate date of currency conversion: Monday, 27 March 2023; and
- Approximate payment date of dividend: Monday, 10 April 2023
Please note that share certificates may not be dematerialised or rematerialised between Wednesday, 22 March 2023 and Friday, 24 March 2023 both dates inclusive
Assuming an exchange rate of R18.0887/US$1*, the dividend payable on an ADR is equivalent to 26.98 United States cents for Shareholders liable to pay dividend withholding tax. However, the actual rate of payment will depend on the exchange rate on the date for currency conversion.
* Based on an exchange rate of R18.0887/US$ at 20 February 2023 from IRESS. However, the actual rate of payment will depend on the exchange rate on the date for currency conversion.
The Sibanye-Stillwater board of directors has declared and approved a cash dividend of 138 SA cents per ordinary share (8.1160 US cents* per share or US 32.4640 cents* per ADR) or approximately R3,914 million (US$230 million*) in respect of the six months ended 30 June 2022 (Interim dividend). The Board applied the solvency and liquidity test and reasonably concluded that the company will satisfy that test immediately after completing the proposed distribution.
Shareholders are advised of the following dates:
- Interim dividend: 138SA cents per share
- Declaration date: Thursday, 25 August 2022
- Last date to trade cum dividend: Tuesday, 13 September 2022
- Shares commence trading ex-dividend: Wednesday, 14 September 2022
- Record date: Friday, 16 September 2022
- Payment of dividend: Monday, 19 September 2022
To holders of American Depositary Receipts (ADRs):
- Each ADR represents 4 ordinary shares
- ADRs trade ex-dividend on the New York Stock Exchange (NYSE): Thursday, 15 September 2022
- Record date: Friday, 16 September 2022
- Approximate date of currency conversion: Monday, 19 September 2022
- Approximate payment date of dividend: Monday, 3 October 2022
Please note that share certificates may not be dematerialised or rematerialised between Wednesday, 14 September 2022 and Friday, 16 September 2022 both dates inclusive.
* Based on an exchange rate of R17.0034/US$ at 22 August 2022 from IRESS. However, the actual rate of payment will depend on the exchange rate on the date for currency conversion.
The Board approved a final dividend for H2 2021 of R5.3 billion (US$342 million) or 187 SA cents per share (48.68 US cents* per ADR), which is at the upper end of the Group dividend policy range of 25% to 35% of normalised earnings. Together with the record interim dividend of R8.5 billion (US$565 million) (292 SA cents per share/77.2 US cents per ADR) for H1 2021, this represents a leading annual dividend yield of 9.8% for 2021 (at the closing JSE share price of R49.10/share on 31 December 2021). In addition to the record dividends, the Group repurchased 5% of its issued capital between June and October 2021, signifying a substantial return of value for shareholders.
Shareholders are advised of the following dates in respect of the final dividend:
- Final dividend: 187 SA cents per share
- Declaration date: Thursday, 3 March 2022
- Last date to trade cum dividend: Tuesday, 22 March 2022
- Shares commence trading ex-dividend: Wednesday, 23 March 2022
- Record date: Friday, 25 March 2022
- Payment of dividend: Monday, 28 March 2022
To holders of American Depositary Receipts (ADRs):
- Each ADR represents 4 ordinary shares;
- ADRs trade ex-dividend on the New York Stock Exchange (NYSE): Thursday, 24 March 2022;
- Record Friday, 25 March 2022;
- Approximate date of currency conversion: Monday, 28 March 2022; and
- Approximate payment date of dividend: Monday, 11 April 2022
Please note that share certificates may not be dematerialised or rematerialised between Wednesday, 23 March 2022 and Friday, 25 March 2022 both dates inclusive.
Assuming an exchange rate of R15.3650/US$1*, the dividend payable on an ADR is equivalent to 48.68 United States cents for Shareholders liable to pay dividend withholding tax. However, the actual rate of payment will depend on the exchange rate on the date for currency conversion.
* Based on an exchange rate of R15.3650/US$ at 28 February 2022 from IRESS.
The Sibanye-Stillwater board of directors has declared and approved a cash dividend of 292 SA cents per ordinary share (19.3036 US cents* per share or US 77.2145 cents* per ADR) or approximately R8,544 million (US$565 million*) in respect of the six months ended 30 June 2021 (“Interim dividend”). The Board applied the solvency and liquidity test and reasonably concluded that the company will satisfy that test immediately after completing the proposed distribution. The interim dividend declared of 292 SA cents equates to 35% of normalised earnings for the period ended June 2021.
Shareholders are advised of the following dates:
- Interim dividend: 292 SA cents per share
- Declaration date: Thursday, 26 August 2021
- Last date to trade cum dividend: Tuesday, 14 September 2021
- Shares commence trading ex-dividend: Wednesday, 15 September 2021
- Record date: Friday, 17 September 2021
- Payment of dividend: Monday, 20 September 2021
To holders of American Depositary Receipts (ADRs):
- Each ADR represents 4 ordinary shares
- ADRs trade ex-dividend on the New York Stock Exchange (NYSE): Thursday, 16 September 2021
- Record date: Friday, 17 September 2021
- Approximate date of currency conversion: Monday, 20 September 2021
- Approximate payment date of dividend: Friday, 1 October 2021
September 21, 2021: Important notice to holders of Sibanye-Stillwater shares from BNY Mellon [PDF]
Please note that share certificates may not be dematerialised or rematerialised between Wednesday, 15 September 2021 and Friday, 17 September 2021 both dates inclusive.
Assuming an exchange rate of R15.1267/US$1*, the dividend payable on an ADR is equivalent to 77.2100 United States cents for Shareholders liable to pay dividend withholding tax. However, the actual rate of payment will depend on the exchange rate on the date for currency conversion.
* Based on an exchange rate of R15.1267/US$ at 23 August 2021 from IRESS.
Sibanye-Stillwater declared a final dividend of 321 SA cents (2019: nil) per share, together with the interim dividend of 50 SA cents (2019: nil) per share (declared and paid), this brings the total dividend for the year ended 31 December 2020 to 371 SA cents (2019: nil) per share, which amounts to 35% of normalised earnings.
- Declaration date: Thursday, 18 February 2021
- Last date to trade cum dividend: Tuesday, 16 March 2021
- Shares commence trading ex-dividend: Wednesday, 17 March 2021
- Record date: Friday, 19 March 2021
- Payment of dividend: Tuesday, 23 March 2021
To holders of American Depositary Receipts (ADRs):
- Each ADR represents 4 ordinary shares;
- ADRs trade ex-dividend on the New York Stock Exchange (NYSE): Thursday, 18 March 2021;
- Record date: Friday, 19 March 2021;
- Approximate date of currency conversion: Tuesday, 23 March 2021; and
- Approximate payment date of dividend: Thursday, 1 April 2021
