Tribune Resources (ASX: TBR) has rewarded shareholders by declaring a maiden fully franked dividend of 20 cents per share. Joining a small club of dividend payers, the Company says it recognises the strong results of the EKJV. The record date for the dividend is 7 July with payment by the end of July.
- Tribune Resources Ltd (ASX: TBR) dividend breakthrough to deliver 20¢ per share
- Maiden dividend of 20¢ per share to be fully franked with a record date of 7 July 2017
- Payment of maiden dividend driven by strength in production at the East KundanaJoint Venture (EKJV) with Northern Star Resources Ltd (ASX: NST) and Rand Mining Ltd (ASX: RND)
Tribune Resources Ltd (“Tribune” or “the Company”) is pleased to announce the payment of a maiden dividend to shareholders for the period up to 31 March 2017.
The Board has resolved to pay a dividend of 20¢ per share, fully franked. The key dates are as follows:
- Ex-dividend Date Thursday 6 July 2017
- Record Date Friday 7 July 2017
- Payment Date Monday 31 July 2017
Managing Director Anton Billis said the dividend payment showed the current level of profitability from operations and recognizes the loyalty displayed by Tribune shareholders.
“It is our maiden dividend and a very healthy one. We are pleased to have reached this milestone for Tribune and its shareholders,” Mr Billis said.
“We also look forward to the continued strength of the EKJV.”
Tribune’s strategy is to begin distributing regular returns to shareholders without compromising the Company’s priorities for cash reserves.
The declaration of future dividends remains at the discretion of the Board and is subject to maintaining the Company’s primary priorities.
These priorities include meeting all financial commitments of the EKJV and other projects; meeting all overhead, compliance and regulatory costs and the ability to assess new business opportunities.
The EKJV is located 25km west north west of Kalgoorlie and 47km north east of Coolgardie. The EKJV is between Tribune Resources Ltd (36.75%), Rand (12.75%) and Northern Star Resources Ltd (51%).