Fresnillo increases its 2017 interim dividend by 23% in dollar terms

DividendMax Ltd.

Fresnillo increases its 2017 interim dividend by 23% in dollar terms

Financial highlights

Adjusted revenue of US$1,069.5m, up 11.5%

Gross profit and EBITDA of US$460.0m and US$522.5m, up 16.6% and 10.2%, respectively

Profit from continuing operations before net finance costs and income tax of US$377.9 million, up 24.2%

Profit for the period of US$310.1m, up 87.2%

Basic and diluted EPS from continuing operations of US$41.9 cents per share, adjusted EPS of US$36.7 cents per share, up 84.6% and 200.8%

Cash generated from operations, before changes in working capital of US$540.3m, up 13.7%

Net cash from operating activities of US$354.2m, down 13.2%

Strong balance sheet with cash, cash equivalents and short-term investments as at 30 June 2017 of US$884.9m

Interim dividend of US$78.1m (10.6 US cents per share 2016: 8.6 US cents per share)


Operational highlights

Silver production of 28.0 moz (including Silverstream), up 11.2%, and gold production of 446 koz, broadly in line

Construction of San Julián (phase II) completed on time and on budget and commercial production began in mid-July

The turnaround plan at the Fresnillo mine continues to show good signs as volume of ore processed increased for the fourth consecutive quarter.

On track to achieve 2017 production target of 58-61 moz silver (including Silverstream) and 870-900 koz gold

Companies mentioned