2022 Interim Dividend Declaration for the Six Months Ended 30 June 2022
PERTH, AUSTRALIA / ACCESSWIRE / August 4, 2022 / Centamin plc ("Centamin" or "the Company") (LSE:CEY)(TSX:CEE) Consistent with the Company's commitment to shareholders returns, the Board is pleased to declare an interim dividend of 2.5 US cents per share (US$29 million) for the six months ended 30 June 2022.
Centamin continues to maintain a robust financial strategy, with available cash and liquid assets of US$175 million as at 30 June 2022 and no debt or hedging on the balance sheet. The Company's financial discipline provides the flexibility to allocate capital to shareholders' returns, business investment and growth, and environmental and social opportunities in pursuance of our corporate purpose and strategy.
2022 Dividend Intention
As Centamin continues to deliver on its growth plans, the Board reiterates its intention to recommend a minimum dividend for 2022 of 5 US cents per ordinary share with the potential for increased distribution aligned with the Company's free cash flow generation after growth capital investment. Therefore, this implies a final dividend of approximately 2.5 US cents per share (US$29 million) to be proposed with the final full year results for 2022. The final dividend will be announced with the 2022 Full Year Results in Q1 2023 and remains subject to Board recommendation and shareholder approval.
Below is the interim dividend timetable for the London Stock Exchange and Toronto Stock Exchange
Ex-Dividend Date: 1 September 2022
Record Date: 2 September 2022
Last Date for Currency Elections: 7 September 2022
Payment Date: 7 October 2022
The interim dividend will be paid on 7 October 2022, in US Dollars ("USD") with an option for shareholders to elect to receive the dividend in Pounds Sterling ("GBP"). Currency elections should be made no later than 7 September 2022 as per the instructions detailed on the Company website (www.centamin.com). Payments in GBP will be based on the USD/GBP exchange rate on 8 September 2022 and the rate applied will be published on the website thereafter.
As a Jersey incorporated company, there is no requirement for Centamin plc to make any withholding or deduction on account of Jersey tax in respect of the dividend.
FOR MORE INFORMATION
Please visit the website www.centamin.com or contact:
Michael Stoner, Group Corporate Manager
Bobby Morse/Ariadna Peretz/George Cleary
+ 44 (0) 20 7466 5000
The dates set out above are based on the Directors' current expectations and may be subject to change. If any of the dates should change, the revised dates will be announced by a regulatory news announcement and will be available at www.centamin.com.
This announcement (including information incorporated by reference) contains "forward-looking statements" and "forward-looking information" under applicable securities laws (collectively, "forward-looking statements"), including statements with respect to future financial or operating performance. Generally, these forward-looking statements can be identified by the use of forward-looking terminology such as "believes", "expects", "expected", "budgeted", "forecasts" and "anticipates" and other similar words. Although Centamin believes that the expectations reflected in such forward-looking statements are reasonable, Centamin can give no assurance that such expectations will prove to be correct. Forward-looking statements are prospective in nature and are not based on historical facts, but rather on current expectations and projections of the management of Centamin about future events and are therefore subject to known and unknown risks and uncertainties which could cause actual results to differ materially from the future results expressed or implied by the forward-looking statements. In addition, there are a number of factors that could cause actual results, performance, achievements or developments to differ materially from those expressed or implied by such forward-looking statements; the risks and uncertainties associated with the ongoing impacts of COVID-19 or other pandemic, general business, economic, competitive, political and social uncertainties; the results of exploration activities and feasibility studies; assumptions in economic evaluations which prove to be inaccurate; currency fluctuations; changes in project parameters; future prices of gold and other metals; possible variations of ore grade or recovery rates; accidents, labour disputes and other risks of the mining industry; climatic conditions; political instability; decisions and regulatory changes enacted by governmental authorities; delays in obtaining approvals or financing or completing development or construction activities; and discovery of archaeological ruins. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information or statements, particularly in light of the current economic climate and the significant volatility, uncertainty and disruption caused by COVID-19. Forward-looking statements contained herein are made as of the date of this announcement and the Company disclaims any obligation to update any forward-looking statement, whether as a result of new information, future events or results except as required by law. Accordingly, readers should not place undue reliance on forward-looking statements.
Company No: 109180
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SOURCE: Centamin PLC