Acacia Mining more than doubles its 2016 full year dividend

DividendMax Ltd.

Acacia Mining more than doubles its 2016 full year dividend

Financial Highlights

Revenue of US$1,054 million, 21% higher than 2015, due to a 13% increase in gold sales and a 7% higher gold price

EBITDA of US$415 million, more than doubled from 2015, mainly due to higher revenues and lower operating costs

Net earnings of US$95 million (US23.2 cents per share), with adjusted net earnings of US$161 million (US39.2 cents per share), is up from US$7 million in 2015

Operational cash flow of US$318 million, 103% up on 2015, driven primarily by higher EBITDA

Proposed final dividend of US8.4 cents per share, total 2016 dividend of US10.4 cents per share, more than double 2015

Net cash of US$218 million, an increase of 107% during 2016

Cash on hand of US$318 million as at 31 December 2016, an increase of US$85 million during the year

Companies mentioned