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Anglo American reports 25 pct rise in core earnings, to resume dividends

Reuters - UK Focus

LONDON, Feb 21 (Reuters) - Anglo American (LSE: AAL.L - news) on Tuesday reported a 25 percent rise in annual earnings before interest, tax, depreciation and amortisation (EBITDA) and 34 percent fall in net debt and said it would resume dividend payments by the end of 2017.

In late 2015 it announced it would suspend dividends after a commodities rout, which was followed by a rebound in raw materials prices in 2016.

To shore up its balance sheet, Anglo had announced a major restructuring plan. On Tuesday it said it would retain its focus "on high-quality long-life assets" while asset sales for deleveraging were no longer necessary.

(Reporting by Barbara Lewis and Sanjeeban Sarkar; editing by Jason Neely)