Reports Record Interim Underlying Profit
Reports Record Interim Underlying Profit
Sydney, Aug 22, 2019 AEST (ABN Newswire) - Santos Ltd (ASX:STO) today announced its half-year results for 2019, reporting both record EBITDAX and underlying profit.

22 August 2019
2019 Half-year results (US$m)
Product sales           $1,974   +18%
EBITDAX                 $1,260   +43%
Underlying profit       $411     +89%
Net profit after tax    $388     +273%
Free cash flow          $638     +74%
Interim dividend (UScps) 6.0     +71%

The Board has resolved to pay an interim dividend of US6.0 cents per share fully-franked, an increase of 71% over the previous interim dividend. The dividend is in-line with Santos' sustainable dividend policy which targets a range of 10% to 30% payout of free cash flow.

Santos Managing Director and Chief Executive Officer Kevin Gallagher said: "Today's announcement of half-year results demonstrates the strength of our cash-generative operating model and the successful integration of the Quadrant acquisition."

About Santos Limited

Santos Ltd

Santos (ASX:STO) is one of the leading independent oil and gas producers in the Asia-Pacific region, supplying the energy needs of homes, businesses and major industries across Australia and Asia.

With its origins in the Cooper Basin, Santos has one of the largest exploration and production acreages in Australia and extensive infrastructure and is committed to supplying the domestic markets, unlocking resources and driving value and performance.

Underpinned by a portfolio of high-quality liquefied natural gas (LNG), pipeline gas and oil assets, Santos seeks to deliver long-term value to shareholders.

Santos' foundations are based on safe, sustainable operations and working together with our shareholders, host communities, governments and business partners.


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