Lithium business helps IGO post 33% yoy jump in operating cash flow in Q1FY24

Wed 08 Nov 23, 11:51 PM | Team Kalkine

Image source: Parilov,Shutterstock

Highlights

ASX-listed mining firm, IGO announced a total dividend of AUD 0.74 apiece in FY23

IGO had a positive start to FY24, as in first quarter, net cash from operating activities increased by 33% YoY

FIL Investment Management (Australia) Limited has the maximum stake in the firm, with a shareholding of nearly 8.72%

IGO Limited (ASX: IGO) is an Australia-based mining firm which is engaged in the development of, exploration and production of gold, copper, nickel, lithium and other products which are essential for the clean energy. The company is also committed towards the generation of renewable energy, electrification of transport and energy storage via downstream processing and upstream mining assets.

In the financial year 2023 (FY23), the company delivered financial and operational improvement, underpinned by the joint venture, Tianqi Lithium Energy Australian Limited (TLEA). The highlight of the year was dividend of AUD 0.74 per share, which is a whooping 640% higher than the previous corresponding year. The company informed that the record dividend was driven by the positive results at Greenbushes.

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