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Pan African beats with dividend; starts share buy-back

London and Johannesburg-listed gold producer Pan African Resources (PAF) has impressed with a higher-than-expected final dividend as the company announced the start of a share buy-back program.

Tom Hoskyns
Pan African Resources' Barberton complex in South Africa

Pan African Resources' Barberton complex in South Africa

PAF reported a final dividend of USc1.27/sh, implying a payout ratio of 33% and a yield of 5.6%. The divi was 71% higher than forecast by analysts at Peel Hunt. "The coming year looks to be the period...

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