Dividend Policy Update

RNS Number : 3092H

Centamin PLC

16 May 2014

 



For immediate release

16 May 2014

Centamin plc ("Centamin" or "the Company")

(LSE:CEY, TSX:CEE)

Dividend Policy Update

Centamin is pleased to announce that with the completion of construction of Stage 4 it intends to commence dividend payments to its shareholders during the current financial year. The maiden interim dividend will be announced at the time of the Company's forthcoming interim results, with the amount to be determined at the discretion of the Board.

The dividend policy will be based on the financial condition of, and outlook for, the Company and its cash flow and financing needs.  When determining the amount to be paid the Board will take into consideration the underlying profitability of the Company.  Specifically, the Board will aim to approve an annual dividend within the range of 15-30% of the Company's net cash flow after sustaining capital costs and following the payment of Profit Share due to the Government of Egypt.

For more information please contact:

Centamin plc Josef El-Raghy, Chairman Andy Davidson, Head of Business Development and Investor Relations ([e-mail]) [phone]

Buchanan Bobby Morse Gordon Poole Gabriella Clinkard + 44 (0) 20 7466 5000

 

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