Anglo Pacific Group PLC Dividend Declaration (0806J)
June 26 2017 - 2:00AM
UK Regulatory
TIDMAPF
RNS Number : 0806J
Anglo Pacific Group PLC
26 June 2017
News Release
June 26, 2017
Anglo Pacific Group PLC
Declaration of interim dividend, introduction of quarterly
dividend and accelerated payment timetable
Anglo Pacific Group PLC ("Anglo Pacific" or the "Company") (LSE:
APF, TSX: APY) is pleased to declare an interim dividend for 2017
of 3p per share. This will be the first dividend paid under the
Company's new dividend payment schedule, which will accelerate the
payment of dividends by 85 days. Following the payment of the
interim dividend on November 15, 2017 the Company will commence
paying its dividend on a quarterly basis.
The Company intends to pay the quarterly instalments in even
tranches, although the fourth quarter dividend may be adjusted to
reflect the actual level of income earned during the year. The
overall level of dividends, currently set at 6p per annum, is
routinely reviewed when announcing our full year results.
The final dividend will continue to be subject to shareholder
approval at the Company's Annual General Meeting ("AGM"). The
directors will consider the appropriateness of a scrip alternative
at each record date.
This accelerated timetable means that, absent any revision to
the current annual level of 6p, shareholders should receive
dividends totalling 9p over the course of the next twelve months
(as outlined in the table below).
Indicative next twelve months
payment schedule
----------------------------------------------
2016 Final
Final H1 17 Q3 17 17 *
================== ========== ========== ========== ==========
Ex-dividend date
(TSX) 28-Jun-17 04-Oct-17 03-Jan-18 04-Apr-18
Ex-dividend date
(LSE) 29-Jun-17 05-Oct-17 04-Jan-18 05-Apr-18
Record date 30-Jun-17 06-Oct-17 05-Jan-18 06-Apr-18
Payment date 09-Aug-17 15-Nov-17 15-Feb-18 15-May-18
Amount 3.00p 3.00p 1.50p 1.50p
9.00p
Previous date 08-Feb-18 09-Aug-18
Days forward 85 86
* subject to shareholder approval at the 2018 AGM
Julian Treger, Chief Executive Officer, commented:
"Mining has fully returned to our private royalty land at
Kestrel and we expect a stable flow of income going forward in
terms of production volumes. This gives us the confidence to
increase the frequency of our dividend payments to match the timing
of our quarterly royalty receipts.
We have listened to feedback from shareholders, and are pleased
to announce a shortening of the time gap between declaring and
paying our dividend which means that the 2017 interim dividend will
be paid some 85 days earlier than was the case for the equivalent
dividend for 2016.
We will monitor our total level of income closely in the second
half of the year before making a decision on the level of the final
dividend for 2017. In the interim our shareholders will benefit
from the changes announced today which should mean that, absent any
revisions to the current annual dividend of 6p, shareholders will
receive dividends totalling 9p over the course of the next twelve
months."
For further information:
Anglo Pacific Group PLC +44 (0) 20 3435 7400
Julian Treger - Chief Executive Officer
Kevin Flynn - Company Secretary & Chief Financial
Officer
Website: www.anglopacificgroup.com
BMO Capital Markets Limited +44 (0) 20 7664 8020
Jeffrey Couch / Neil Haycock / Tom Rider / Jenny Wyllie
Macquarie Capital (Europe) Limited +44 (0) 20 3037 2000
Raj Khatri / Nicholas Harland / Ariel Tepperman
Peel Hunt LLP +44 (0) 20 7418 8900
Matthew Armitt / Ross Allister / Chris Burrows
Redleaf Communications +44 (0)20 7382 4769
Charlie Geller / Elise Palmer / Sam Modlin
Notes to Editors
About Anglo Pacific
Anglo Pacific Group PLC is a global natural resources royalty
and streaming company. The Company's strategy is to develop a
leading international diversified royalty and streaming company
with a portfolio centred on base metals and bulk materials,
focusing on accelerating income growth through acquiring royalties
on projects that are currently cash flow generating or are expected
to be within the next 24 months, as well as investment in earlier
stage opportunities. It is a continuing policy of the Company to
pay a substantial portion of these royalties to shareholders as
dividends.
This information is provided by RNS
The company news service from the London Stock Exchange
END
DIVEANKSAFNXEFF
(END) Dow Jones Newswires
June 26, 2017 02:00 ET (06:00 GMT)
Ecora Resources (LSE:ECOR)
Historical Stock Chart
From Mar 2024 to Apr 2024
Ecora Resources (LSE:ECOR)
Historical Stock Chart
From Apr 2023 to Apr 2024