Gold Fields, which has nine operating mines in Australia, Africa, Canada, and South America, has declared an interim gross dividend of 3.25 rand ($0.17) per share, which is 35% of its normalised earnings.
The interim dividend rose 8% year-on-year (YoY) compared with the 2022 interim dividend of 300 SA cents per share.
The company has a dividend policy of paying out between 30% and 45% of normalised profit as dividends.
Gold Fields’ normalised earnings decreased by 9% to $498 million, in the first half of 2023, compared to $554 million, in the first half of 2022.
Meanwhile, the company said its attributable gold equivalent production for the first half of 2023 was about 1,15 million ounces (oz), a 4% decrease compared to the previous year’s 1,2 million oz, underpinned by the planned decline in production from the Damang mine in Ghana.
Mathew Nyaungwa, Editor in Chief of the African Bureau, Rough&Polished