divi - 2017, today's RNS30 Mar 2017 09:09
Improved earnings translated into free cash flow generated in 2016 of £13.2m (2015: £4.7m) and net debt reduced to £1.0m at December 31, 2016
Recommended final dividend of 3.00p per share resulting in a total dividend for 2016 of 6.00p (2015: 7.00p).
Significant increase in dividend cover, based on adjusted earnings, of 1.6x (2015: 0.4x) - dividend levels will be reviewed by the Board as part of the 2017 interim reporting in August 2017
"2017 should be a year of significant organic growth for Anglo Pacific as production at Kestrel moves increasingly into our royalty lands and we benefit from planned production increases at Narrabri. Coal prices remain much higher than in the previous year and this, we believe, has set a new base level for prices above those forecast this time last year.