The interim dividend of R1.60 a share matches the entire payout for 2019 as a high gold price and steady production pays off
Gold Fields doubled its interim profit and paid shareholders a dividend equivalent to that for the entire previous year as new production and a higher gold price offset disruptions to its mines from the Covid-19 pandemic.
It declared an interim dividend of R1.60 a share, which was the same as the R1.60 for the entire 2019. “We expect to use the strong cash flows generated by the business to continue to de-lever the balance sheet, pay dividends in line with our policy and fund the construction of Salares Norte,” it said of its new project in Chile.Full-year production guidance was lowered by 65,000oz to 75,000oz.
Gold Fields kept group production steady at 1.087-million oz year on year as the new Gruyere mine in Australia reached commercial production levels in September 2019. Gold Fields owns 45% of the mine.Gold Fields switched the production month-ends of all of its mining operations to coincide with calendar months instead of using the global industry-standard production month-ends of the 20th day of each month.
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