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Centamin ups dividend

The gold miner has bumped up the interim pay-out despite a fall in reported earnings
July 31, 2019

The gold price trajectory is working in Centamin’s (CEY) favour despite a fall in reported revenue and earnings in the first half of 2019. Management felt able to raise the interim dividend by 60 per cent to 4¢ a share (ex-div on 29 Aug 2019) in anticipation of growing free cash-flow.

IC TIP: Buy at 131p

Pre-tax profits fell 26 per cent to $59.6m (£48.9m), even as output increased by 8 per cent. Gold sales totalled 224,129 ounces (oz) at a realised price of $1,305 an oz.