JOHANNESBURG (miningweekly.com) – Dual-listed DRDGold on Friday declared a dividend of 38c a share for the third quarter of the 2016 financial year.
The group’s total distribution for the year to date was now 50c a share, when added to the 12c a share interim dividend declared in February, representing a 400% increase on the 10c a share for the full 12 months of 2015.
“The very significant weakening of the rand, coupled with higher production and stable costs, pushed our net cash and cash equivalent position up at the end of the third quarter to beyond R410-million,” said DRDGold CEO Niël Pretorius.
With no large near-term capital projects to fund, DRDGold preferred to pay out the surplus cash to its shareholders.