Rand Mining rewards shareholders with 10cps dividend
Rand Mining (ASX: RND) has announced the payment of a dividend to shareholders. The Board has resolved to pay a dividend of 10 cents per share, fully franked at the company tax rate of 30%.
Rand Mining (ASX: RND) has announced the payment of a dividend to shareholders.
The Board has resolved to pay a dividend of 10 cents per share, fully franked at the company tax rate of 30%. The key dates are as follows:
Ex-dividend Date - 10 October 2019
Record Date - 11 October 2019
Payment Date - 22 October 2019
Managing Director Anton Billis said the dividend payment reflects the current strong gold price environment that allows for surplus cash to be distributed to shareholders.
“This dividend continues our history over the past few years of rewarding shareholders for their loyalty and underlines the continued success of the EKJV.”
The dividend is in line with Rand’s strategy of distributing returns to shareholders on a regular basis while first having regard to the Company’s priorities for cash reserves. Those priorities are:
· Meeting all required or anticipated financial commitments and requirements of the EKJV and other projects;
· Meeting all overhead and compliance and regulatory costs; and
· Enable the Company to review, analyse and secure suitable acquisitions or other opportunities to grow shareholder wealth.
The declaration of future dividends remains at the discretion of the Board and is subject to maintaining the Company’s primary priorities.
The EKJV is located 25km west north west of Kalgoorlie and 47km north east of Coolgardie. The EKJV is between Rand (12.75%), Tribune Resources Ltd (36.75%) and Northern Star Resources Ltd (51%).