Aspen slashes debt and reinstates dividends
Pharmaceutical manufacturer Aspen Pharmacare announced that it will pay shareholders a dividend of 262c a share and will consider future distributions on a year-by-year basis, reported Business Day (2 September 2021).
“Aspen’s net debt fell by more than half during the year to June 30 to R16.3-bn, compared with R35.2-bn the year before. The reduction in borrowings was driven by the sale of Aspen’s European thrombosis business, strong operating cash flows and a stronger rand relative to the euro and Australian dollar at year-end, it said in a statement. Aspen reported a 12% increase in revenue to R37.8-bn, compared with R33.7-n the year