| Paper and packaging group Mondi says it recognises the importance of dividends to shareholders - which is why it has reinstated last year's final dividend on top of its interim payout. After withdrawing the dividend in April due to the uncertainty caused by Covid-19, it has managed to weather the pandemic so far. Its shares rose yesterday. Glencore, on the other hand, fell after it suspended distributions after booking a big impairment charge due to Covid-19, pushing it into a first-half loss. MTN had already warned shareholders not to expect an interim payout despite a decent first-half performance. It says it may make a payment at the end of the year, circumstances permitting. UK shopping centre owner Hammerson isn't paying a dividend either. Instead, it plans to ask shareholders to back a rights issue to help it reduce debt. Hammerson also features in DealMakers' latest report on merger and acquisition activity after it announced the sale of its stake in VIA Outlets, also aimed at cutting debt and simplifying its property portfolio. Read on for more M&A deals from the likes of Rand Merchant Investments, Datatac, Cashbuild and Stenprop. I hope you have a good long weekend. Stephen Gunnion Managing Editor, InceConnect
Recent notes of topical interest from Ingham Analytics The oil price has been rising of late with Brent crude over $45/bbl. Is this positive for Sasol? Are there more pressing issues to deal with? In "Going, going for a song", Ingham Analytics address the issue of the sale of air separation units located in Secunda to Air Liquide, which still leaves Sasol way short of the $6bn it needs to raise in funding, and moreover the increasingly likelihood of a rights issue. What are the dilutionary implications for you as a shareholder? Gold hit $2,072/oz yesterday. Is it going higher? Is there justification? Why are US ten-year Treasury yields at lows of 0.51%? "Bedazzled" gives you the perspective. | 