The Ecora Resources Board recommended and the Company's shareholders approved a final dividend in respect of the year ended 31 December 2022 of 1.75p at the Annual General Meeting on 10 May 2023. The final dividend totalling $5.6m was paid on 7 June 2023.
Dividends from Q1 2023 onwards will be declared in US dollars, translated at exchange rates prevailing on the record date of each dividend and payable in sterling and Canadian dollars to shareholders on the London and Toronto Stock Exchanges respectively. Three interim dividends of 2.125c per share have been declared for the year ended 31 December 2023 and will be paid on 26 July 2023, 25 October 2023 and 14 February 2024.
Other financial highlights include:
Portfolio contribution in H1 2023 of $44.5 million (H1 2022: $92.8 million) with royalty and metal stream related revenue in H1 2023 of $42.7 million (H1 2022: $93.2 million) reflecting the commencement of the transition to mining outside of the Group's private royalty area at Kestrel along with a normalisation in commodity prices from record levels in H1 2022
Adjusted earnings per share of 9.06c (H1 2022: 28.08c) reflecting the lower portfolio contribution relative to the same period last year
Loss before tax in H1 2023 of $10.2 million (H1 2022: profit $130.0 million), reflecting the lower royalty and metal stream related revenue, together with the revaluation of Kestrel to account for H1 2023 depletion
Net debt as at 30 June 2023 of $43.3 million (31 December 2022: $36.4 million)
