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Gem Diamonds to pay dividends for the first time since 2015

16 march 2021
News
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Image credit: Gem Diamonds


Gem Diamonds, which mines diamonds at Letseng mine in Lesotho, has proposed to pay ordinary dividends of 2.5 US cents per share in June this year for the first time since 2015.
"We are pleased to announce that based on the results achieved in 2020, the board has recommended the payment of an ordinary dividend of 2.5 US cents per share," said Gem Diamonds chief executive Clifford Elphick.
GEM Diamonds reported earnings from continuing operations of 12.1 US cents per share compared to 5.1 US cents per share in 2019 on the back of improved diamond prices despite Covid-19 lockdowns that stalled production by six weeks.
The company's earnings before interest, tax, depreciation, and amortisation reached $53 million in 2020 from $41 million the previous year. 

Mathew Nyaungwa, Editor in Chief of the African Bureau, Rough&Polished


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