Randgold Resources: Proposed dividend increased
JERSEY, CHANNEL ISLANDS--(Marketwired - Mar 28, 2017) - Randgold Resources (NASDAQ: GOLD) (LSE: RRS)
Randgold Resources Ltd.
Incorporated in Jersey, Channel Islands
Reg. No. 62686
LSE Trading Symbol: RRS
NASDAQ Trading Symbol: GOLD
("Randgold Resources" or the "Company")
PROPOSED DIVIDEND INCREASED
Jersey, Channel Islands, 28 March 2017 - In its Annual Report for 2016 published today, Randgold Resources confirmed its intention to increase its final dividend for the year ended 31 December 2016. Since its first dividend in respect of the 2006 financial year, the annual dividends have increased by 900% over that 10 year period.
The board has proposed a 52% year on year increase in the dividend to $1.00 per share for the year ended 31 December 2016 for approval at its annual general meeting on 2 May 2017. The dividend will be paid in cash with no scrip alternative being made available.
"Now that we have reached our $500 million cash target, going forward Randgold intends to continue to pay an annual dividend that will take into account its profitability, cash flows and the wider capital requirements of the group in the context of its financial position, including its expected cross-cycle operating cash flows and its cross-cycle capital expenditure requirements. The company will seek to maintain a net cash position of approximately $500 million to provide financing flexibility should a new mine development or other growth opportunity be identified. To the extent that Randgold has surplus capital, the company intends to return such excess to shareholders," said chief financial officer Graham Shuttleworth. "The increase in dividends validates the business model and reflects the profitability and financial strength of the group."
RANDGOLD RESOURCES' ENQUIRIES:
| Chief Executive Mark Bristow +44 788 071 1386 +44 779 775 2288 | Financial Director Graham Shuttleworth +44 1534 735 333 +44 779 771 1338 | Investor & Media Relations Kathy du Plessis +44 20 7557 7738 Email: randgold@dpapr.com |
Website: www.randgoldresources.com
Please click on the following link to view the full announcement.
http://www.rns-pdf.londonstockexchange.com/rns/7247A_1-2017-3-28.pdf
Contact
RANDGOLD RESOURCES ENQUIRIES
Chief Executive
Mark Bristow
+44 788 071 1386
+44 779 775 2288
Financial Director
Graham Shuttleworth
+44 1534 735 333
+44 779 771 1338
Investor & Media Relations
Kathy du Plessis
+44 20 7557 7738
Email: randgold@dpapr.com
