Mining investor Anglo Pacific announced record royalty income and record royalty cash flow per share as it delivered annual dividend growth in line with its 7-8 per cent progressive target.
IC TIP:
Buy
at
313p
Mining royalties remain a little used model in the UK and are better understood by US investors. But, essentially, Anglo establishes royalty agreements in return for financing mining operations - generally to help progress mines into production. In rarer instances, the group also buys existing royalties. It will soon have 20 royalties, of which four are in production.