Fresnillo increases its 2016 interim dividend by 309%

DividendMax Ltd.

Fresnillo increases its 2016 interim dividend by 309%

Highlights (H1 2016/H1 2015 comparisons)

Silver production of 25.2 moz (including Silverstream), up 6.1%, and gold production of 448 koz, up 23.0%

Profit for the period of US$165.6m, up 116.9%

Basic and diluted EPS US$22.7 cents per share, up 118.3%

Cash generated from operations of US$475.2m, up 50.9%

Strong balance sheet maintained - cash, cash equivalents and short-term investments of US$701.2m

Interim dividend of US$63.4m (8.6 US cents per share) declared reflecting Board's confidence in the Company's financial position and outlook; no change to previously stated policy

Construction of the leaching plant (stage 1) at San Julián completed, with production expected to re-start in the coming days

Centauro Extension project and resumption of Pyrites project approved by the Board

Full year gold production guidance raised to 850-870 koz from 775-790 koz; full year silver production remains on track (49-51 moz, including Silverstream)

Companies mentioned