LONDON (Alliance News) - Anglo Asian Mining PLC said Friday it is considering paying a maiden dividend due to its current "strong" financial position.
Speaking at the company's annual general meeting, Chief Executive Reza Vaziri said: "2017 was a year of delivery for Anglo Asian; the company successfully implemented a wide-ranging optimisation and expansion strategy."
As a result, the company is now considering a dividend policy and the payment of a maiden dividend.
Vaziri said the company, if approved by shareholders, will announce its dividend policy with its interim results due in September.
Anglo Asian is expecting increased production performance in the financial year 2018. It is forecasting between 78,000 and 84,000 gold equivalent ounces produced, up from 71,461 gold equivalent ounces the year before.
Vaziri said: "The company achieved a 26% increase in year-on-year gold equivalent ounces production in the first quarter of 2018, further highlighting the strong growth we are experiencing following the implementation of our expansion and optimisation programme."
Shares in Anglo Asian Mining were up 4.9% Friday at 43.55 pence each.
Anglo Asian (AAZ)