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Get a 10 per cent yield with Central Asia Metals

Copper miner Central Asia Metals has announced a maiden dividend of 7p a share, transforming the company into one of the highest-yielding dividend payers on Aim
December 13, 2012

After a bumper first year of copper production, miner Central Asia Metals (CAML) has declared maiden dividends totalling 7p a share. The company will pay a half-year dividend on 1 February 2013 of 3.3p a share and a special dividend of 3.7p a share. It also expects to declare a final dividend of about 3.3p in March.

IC TIP: Buy at 101p

That makes Central Asia one of only three Alternative Investment Market-traded mining companies that pays a dividend – and Central Asia's shares generate a nice yield, 7 per cent based on the 7p payout. Broker Canaccord Genuity forecasts adjusted EPS of 14¢ in 2012 and 28¢ in 2013. The company also said that copper production from its Kounrad project in Kazakhstan has exceeded expectations, yet again.