Antofagasta (ANTO) has cut its dividend months after first seeing the impact of Covid-19 on the copper price and the initial government response in Chile.
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The miner will now hand over 7.1¢ (5.8p) to investors, instead of the 23.4¢ proposed in its 2019 results in March. Antofagasta said the decision had come after a new spike in cases in Chile and further restrictions for the capital Santiago. This decision will save $161m (£131m). The ex-dividend date has already passed, and the dividend will be paid on 22 May.
The copper miner said its operations had not been affected by the restrictions.
