Payday for Cape Lambert shareholders
PERTH (miningweekly.com) – Resources and investment company Cape Lambert on Friday announced that it would return about A$25-million to shareholders through 4c-a-share fully franked dividends.
The dividend announcement follows the settlement with the Australian Taxation Office regarding a notice of amended assessments, and an associated penalty notice, as well as the successful settlement of a dispute with Metallurgical Corporation of China.
Following the resolution of these matters, ASX-listed Cape Lambert had unrestricted cash of some A$65-million.
“We have proven over a long period of time that we can execute our strategy and return surplus cash to our shareholders, a strategy that we will continue in the future with the aim to deliver further value to shareholders," said executive chairperson Tony Sage.
He added that with greater certainty about the company’s balance sheet, Cape Lambert would now look to take advantage of the current market conditions, and would evaluate and advance "suitable" investment opportunities.
“We have been presented with, and identified, a range of investment opportunities that we think we can add value to, either through technical or financial support, and we plan to advance these so as to create further value for our company and shareholders,” Sage said.
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