Original article by Peter Ker
The Australian Financial Review – Page: 16 : 26-Oct-20
Whitehaven Coal’s lenders recently agreed to relax its debt covenants after the company sought relief due to a severe downturn in coal prices. However, a condition of that relaxation will constrain the company’s ability to pay dividends until its debt levels fall below certain thresholds. Whitehaven had paid out a record final dividend of $298 million in August 2019, and chairman Mark Vaile says he has no regrets about the payment. He says the company may need to be a bit more conservative about capital management in the future, while he notes that the 2019 payout followed two successive years of record profits.
WHITEHAVEN COAL LIMITED – ASX WHC