MICHAEL STARKE | EDISON
The firm had an exceptional year, with copper prices pushing revenues up and operational profits almost doubling. The huge dividend reflects that fact. The question is whether it will be able to repeat this – we’ve seen some profit taking today from those who think that Antofagasta has peaked.
CHARLES COOPER | ORIEL SECURITIES
It’s broadly been a bumper year, though some figures missed consensus forecasts once one-offs are removed. But given the fact that the firm has accounted for spending on projects and taking into account higher commodity prices, it’s possible that the company could pay out a similar dividend in 2011.
TOM GIDLEY-KITCHIN | CHARLES STANLEY
The dividend shows that Antofagasta is confident about copper prices over the next year and is continuing to increase production quite significantly. It’s a gesture in favour of greater distribution. The firm’s significant net cash balance remains in place and it has a positive exploration programme.