DRDGOLD Limited has declared a third-quarter dividend of 38 South African (SA) cents per share for the quarter ended 31 March 2016.
JOHANNESBURG, SOUTH AFRICA. 29 April 2016. DRDGOLD Limited (DRDGOLD; JSE, NYSE: DRD) has declared a third-quarter dividend of 38 South African (SA) cents per share for the quarter ended 31 March 2016.
This is the first time – since returning to dividend payments – that the company has paid a third- quarter dividend and means that DRDGOLD now has an uninterrupted nine-year dividend run.
The dividend declared today, together with the interim dividend of 12 SA cents per share declared on 16 February 2016, makes a total distribution of 50 SA cents to date in FY2016 and marks a 400% improvement on the total distribution of 10 SA cents per share for the whole of FY2015.
DRDGOLD CEO Niël Pretorius says the latest dividend underscores the board of directors’ position not to sit on surplus cash but to pay this out to shareholders.
“The very significant weakening of the Rand, coupled with higher production and stable costs, pushed our net cash and cash equivalent position up at the end of the third quarter to beyond R410 million,” Pretorius said.
“We do not have any large near-term capital projects to fund and can do this distribution without cutting into our cash buffer.”
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Many factors could cause the actual results, performance or achievements to be materially different from any future results, performance or achievements that may be expressed or implied by such forward-looking statements, including, among others, adverse changes or uncertainties in general economic conditions in the markets we serve, a drop in the gold price, a sustained strengthening of the rand against the dollar, regulatory developments adverse to DRDGOLD or difficulties in maintaining necessary licenses or other governmental approvals, changes in DRDGOLD’s competitive position, changes in business strategy, any major disruption in production at key facilities or adverse changes in foreign exchange rates and various other factors. These risks include, without limitation, those described in the section entitled “Risk Factors” included in our integrated report for the fiscal year ended 30 June 2015, which we filed with the United States Securities and Exchange Commission on 30 October 2015 on Form 20-F. You should not place undue reliance on these forward-looking statements, which speak only as of the date thereof. We do not undertake any obligation to publicly update or revise these forward-looking statements to reflect events or circumstances after the date of this report or to the occurrence of unanticipated events. Any forward-looking statements included in this release have not been reviewed and reported on by DRDGOLD’s auditors.