Newcrest will pay dividend to shareholders

Newcrest Mining Limited has announced a US7.5 cent (K22.43) per share dividend payment to shareholders in its 2016 Annual Report.

This follows their recent announcement of nearly a billion kina in profits.

Newcrest chairman Peter Hay says following free cash flow generated by the business, it has enabled the company to lower its net debt.

Also, after considering capital requirements and market conditions, the Board determined the dividend.

“This reflects our confidence in Newcrest’s financial health and outlook for the year ahead,” says Hay.

“Subject to market and operating conditions, we will continue to use our free cash flow to reduce net debt to provide greater financial strength, fund profitable growth opportunities and provide returns to our shareholders.”

The announcement should be welcome news for shareholders after the Board determined there were to be no dividends for the months ending June 30, 2015, as the repayment of debt was prioritised...read more  on >> Pacific Mining News