RE: SP movement1 Feb 2023 14:57
There's been no shift in dividend policy for getting on for 10 years - a third of free cash flow. Last accounts showed $88m whilst repaying the Sasa loan. This year that's not going to be an issue, copper and lead prices have strengthened so could be seeing $100m free cash flow.
$33m would equate to 23.5c dividend per share, last year they paid 25c. So either my calculations are wrong or they're paying a bigger chunk. 25c x 182m equals $45m or 50% FCF. Do that again, before cutting dividends next year to part fund further capital investment is what I'd like to see. So a dividend increase to c. $0.28 would be rather nice and represents a yield just about 10% still
Pretty please :D