Shares in Alumina Limited (ASX:AWC) bounced yesterday after the company said it would increase its dividend.
In a half year update to shareholders Alumina said it will pay a fully franked final dividend of 2.8885 cents or 3 US cents per share, up from 2 US cents.
The company also stated its Alcoa World Alumina & Chemicals joint venture, of which it has a 40 per cent interest, is forecast to benefit because of price restructures in the industry.
Shares in Alumina bounced 3.38 per cent yesterday, ending the day at $1.68.
In the first half of the 2011 financial year, Alumina boosted its net profit to $63 million.
