Centamin (CEY) increases its 2017 interim dividend by 25% in dollar terms

DividendMax Ltd.

Financial Highlights

Interim dividend per share of 2.5 US cents, a 25% increase on 2016 interim payment and in line with Centamin's stated policy of returning free cash flow to shareholders.

EBITDA of US$66 million up 24% from Q1 2017 due to an increase in both sales volumes and average realised gold price.

Strong cash flow generation with free cash flow generation of US$50.8 million year to date.

Cash at bank, bullion on hand, gold sales receivable and available-for-sale financial assets as at 30 June 2017 of US$333.6 million.

The Egyptian state has benefitted directly from profit share payments to EMRA of US$41.2 million during H1 2017 (in line with guidance for 2017) in addition to US$8.7 million in royalty payments.

Quarterly basic earnings per share (after profit share) of 1.10 US cents, a decrease on Q1 2017 due to non-cash and non-recurring items as well as higher profit share payments.