Oct 29 (Reuters) - South32 Ltd S32.AX :
* "INTENT IS TO DISTRIBUTE A MINIMUM OF 40% OF UNDERLYING EARNINGS AS ORDINARY DIVIDENDS"
* ON TRACK TO MEET FY21 EMISSIONS TARGET AND KEEP THEM AT OR BELOW FY15 LEVELS
* "EXPECT TO DELIVER A FURTHER REDUCTION IN OPERATING COSTS ACROSS MAJORITY OF OUR OPERATIONS"