Thungela Resources declared an interim gross ordinary cash dividend of 550.00 cents per share on August 17, 2026, more than doubling its payout as surging thermal coal prices lifted pretax profit to ZAR2.29 billion for the six months ending June 30.
Profit Surge and Dividend More Than Doubled
The dual-listed thermal coal producer capitalized on robust global energy markets during the first half of the year. Pretax profit for the Rosebank-based coal miner reached ZAR2.29 billion, marking a sharp increase from ZAR384 million during the same period a year earlier (Thungela Resources hikes interim dividend as coal prices lift profit). This financial jump enabled the board of directors to approve an interim gross ordinary cash dividend of 550.00 cents per share on 17 August 2026, funded directly from retained earnings based on an issued share capital of 140,492,585 ordinary shares (Thungela Resources (TGA) Announces 550 Cents Interim Cash Dividend Per Share for 2026).
Shares in Thungela Resources traded up 8.4% to ZAR105.81 in Johannesburg morning trade, while London listings climbed 9.5% to 490.00 pence. Revenue rose 2% to ZAR15.17 billion from ZAR14.81 billion, lifting adjusted earnings before interest, taxes, depreciation, and amortization by 88% to ZAR1.3 billion.
Global Energy Tensions Drive Coal Price Realisations
Behind the company’s financial gains are broader geopolitical pressures. Coal prices rose alongside gas and crude oil as a direct result of tensions in the Middle East. These market shifts boosted export price realizations across the company’s asset base.
The average realised export price through the Richards Bay Coal Terminal reached USD89.18 per tonne, representing a 14% increase from USD78.13 per tonne a year earlier. Australian operations saw more modest gains, with the average realised export price climbing 1.5% to USD110.92 per tonne from USD109.28. Total export saleable production across the group rose 5.8% to 8.5 million tonnes, up from 8.0 million tonnes.
Asset Disposals and Capital Projects Shape Half-Year Results
Beyond commodity prices, Thungela booked profit on disposals amounting to ZAR1.04 billion, compared to none in the prior year. The gains followed the sale of the Kleinkopje mining right at the Khwezela Colliery, a transaction finalized late in June. Earnings per share, which include proceeds from these disposals, surged to ZAR10.95 from ZAR1.93, while headline earnings per share climbed to ZAR4.80 from ZAR1.92.
Operational delivery also supported the results. Life-extension initiatives, specifically the Annea Colliery and the Zibulo North Shaft projects, were completed on time and within budget, and both continue to ramp up production.
Payment Schedules, Currencies, and Tax Requirements for Shareholders
Investors on different registers face distinct payout mechanics and timelines. UK-registered shareholders will receive a gross dividend of 25.19 pence per share, converted at a rate of GBP1:ZAR21.83530 based on the five-business-day average quoted by Bloomberg up to 13 August 2026 (Thungela Resources (TGA) Announces 550 Cents Interim Cash Dividend Per Share for 2026).
- JSE Payment Date: 21 September 2026
- LSE Payment Date: 5 October 2026
- LSE Ex-Dividend Date: 17 September 2026 (last trading day to qualify is 16 September 2026)
- Record Date: 18 September 2026 for both JSE and LSE registers
- Register Transfer Restriction: No movement of shares between South African and UK registers from 15 September 2026 through 18 September 2026 inclusive
A standard South African dividends tax rate of 20% applies to non-exempt shareholders. UK holders subject to the full rate will receive a net dividend of 20.15 pence per share after a 5.04 pence deduction. Eligible UK shareholders seeking reduced withholding tax under double-taxation treaties must submit exemption documentation to Computershare UK by 18 September 2026.
Production Outlook and Future Guidance
Looking ahead to 2026, Thungela expects South African export saleable production to land between 13.0 million tonnes and 13.6 million tonnes, down from 13.8 million tonnes in 2025. Conversely, export saleable output from Australian operations is projected between 3.9 million tonnes and 4.2 million tonnes, compared to 3.9 million tonnes the previous year.
