Yes, the table below is correct. After a very profitable year, Egypt-based gold miner Centamin (CEY) quintupled its full-year dividend for 2016, immediately turning the stock into one of the highest-yielders in the mining sector. A total return to shareholders of $178m (£141m) also smashed consensus expectations, which had taken a revised policy to pay out at least 30 per cent of net cash flow to mean, well, 30 per cent.
IC TIP:
Buy
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163p
The modest 4 per cent share price rise that greeted these results suggests investors are not getting carried away with hopes for future income. That would be sensible, particularly as Centamin expects all-in sustaining cash costs to rise 14 per cent to $790 an ounce this year, along with a slight decline in production.