SOURCE: Centamin plc
May 16, 2014 02:00 ET
PERTH, AUSTRALIA--(Marketwired - May 16, 2014) - Centamin PLC (LSE: CEY) (TSX: CEE)
Centamin plc ("Centamin" or "the Company")
Dividend Policy Update
Centamin is pleased to announce that with the completion of construction of Stage 4 it intends to commence dividend payments to its shareholders during the current financial year. The maiden interim dividend will be announced at the time of the Company's forthcoming interim results, with the amount to be determined at the discretion of the Board.
The dividend policy will be based on the financial condition of, and outlook for, the Company and its cash flow and financing needs. When determining the amount to be paid the Board will take into consideration the underlying profitability of the Company. Specifically, the Board will aim to approve an annual dividend within the range of 15-30% of the Company's net cash flow after sustaining capital costs and following the payment of Profit Share due to the Government of Egypt.
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