DRDGOLD has declared an interim dividend of 20 SA cents per share for the six months ended 31 December 2021.
“We are pleased to report a strong finish, attributable mainly to an increase in gold recoveries and a higher average gold price compared to the first three months of the period,” said company chief executive Niël Pretorius.
“These contributed to headline earnings per share of 58.0 cents and free cash inflow of R406.9 million for the half-year.”
DRDGOLD concluded the financial period with cash and cash equivalents of more than R2.2 billion after paying a cash dividend of R345.5 million in September 2021.
“This has enabled us to declare an interim dividend of 20 cents per share, without inhibiting our capital investment programme and taking the number of years of uninterrupted dividend yield to 15,” said Pretorius.
Meanwhile, DRDGOLD said steady performances at both Ergo and Far West Gold Recoveries resulted in gold production exceeding forecasts by just over 5 980oz.
This softened the impact of the depletion of higher-grade reserves at Ergo and set the business up favourably to achieve full-year production guidance.
Group revenue decreased by 16% to about R2.5 billion mainly due to a 13% decrease in the average Rand gold price received to R863 108/kg as well as a 4% decrease in gold sold to 2 891kg.
Mathew Nyaungwa, Editor in Chief of the African Bureau, Rough&Polished
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