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Swick maintains focus on returns

Drilling contractor Swick Mining Services has confirmed it will pay a dividend totalling nearly A$1 million and is set to launch a $1 million share buy-back.
Swick maintains focus on returns Swick maintains focus on returns Swick maintains focus on returns Swick maintains focus on returns Swick maintains focus on returns

Based on its recent share price of 10.5c, the latter would account for 9.5 million shares, or 4.1% of the company, with Swick's shares trading at 21c 12 months ago and 27c in August.

Regarding the dividend, the payout to shareholders will be 0.3c per share.

It will be the first interim dividend paid since 2015.

As at December 30, Swick had total assets of $151.7 million (including cash of $12 million), and total liabilities of $55.6 million.

Borrowings made up $20.5 million of liabilities.

Revenue in the first half of the current financial year totalled $82.5 million, generating earnings of $12.1 million (on an EBITDA basis).

Shares in Swick closed Monday at 10c, capitalising the company at $30.5 million.