PROFIT & LOSS

Resolute approves A$14.8M dividend

Resolute (ASX:RSG) has approved dividend payments totaling A$14.8 million (US$10.5 million) for the 2018 financial year.

Staff reporter
Resolute's John Welborn and Perth Mint CEO Richard Hayes with gold coins

Resolute's John Welborn and Perth Mint CEO Richard Hayes with gold coins

It said the dividend was equal to 3.3% of its sales revenue for the financial year of $446 million.

Shareholders will be paid a dividend of 2c per share in either cash or gold on October 12.

The gold payment option applies to shareholders who held 5,000 or more shares on September 3, and those who elected to receive their dividend in gold last year will automatically receive gold again, unless they notify Resolute otherwise.

Resolute said if shareholders elected to receive the payment in gold, they would need to open an account online with the Perth Mint by October 1.

Managing director and CEO John Welborn said in the dividend announcement that Resolute continued to generate positive cash flows and returns to shareholders while making significant investments in major development activity across its asset base.

"Resolute is in a strong position to deliver further growth which will generate greater gold production at a higher margin resulting in increasing cash flows, larger profits and greater dividends for our shareholders," he said.

Resolute's shares closed steady at $1.10/share Tuesday.

 

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