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Anglo Pacific reported weaker performance in the first half of the year, but expected a strong second of the year amid rising coking coal prices as demand in China continued to recovery.
The company reported a portfolio contribution of £18.5-to-£19.0m in first half of the year, compared with £25.5m in second half of 2019 and £33.1m in first half of 2019.
The company paid 5.875p in dividends in the first half of the year and a further 1.75p would be paid at the quarterly dividend payment date of 14 August 2020.
The decrease was largely due to the recent softening of coal prices as a result of Covid-19, the company said.
Revenue generated during the first half of 2020 along with a lower pricing forecast would result in a decrease in the value of the Kestrel royalty at 30 June 2020, the company added.
At 9:14am: (LON:APF) Anglo Pacific Group PLC share price was -10.5p at 118.7p