Centamin PLC: Dividend Policy Update
16.05.2014 | Marketwire
PERTH, AUSTRALIA -- (Marketwired - May 16, 2014) - Centamin PLC (LSE: CEY) (TSX: CEE) ("Centamin" or "the Company") Dividend Policy Update
Centamin is pleased to announce that with the completion of construction of Stage 4 it intends to commence dividend payments to its shareholders during the current financial year. The maiden interim dividend will be announced at the time of the Company's forthcoming interim results, with the amount to be determined at the discretion of the Board.
The dividend policy will be based on the financial condition of, and outlook for, the Company and its cash flow and financing needs. When determining the amount to be paid the Board will take into consideration the underlying profitability of the Company. Specifically, the Board will aim to approve an annual dividend within the range of 15-30% of the Company's net cash flow after sustaining capital costs and following the payment of Profit Share due to the Government of Egypt.
For more information please contact:
Centamin PLC
Josef El-Raghy, Chairman
Andy Davidson, Head of Business Development and Investor Relations
(andy.davidson@centamin.je)
+44 (0) 1534 828708
Buchanan
Bobby Morse
Gordon Poole
Gabriella Clinkard
+ 44 (0) 20 7466 5000
CONTACT INFORMATION
RNS
Customer Services
0044-207797-4400
rns@londonstockexchange.com
http://www.rns.com