The Company’s dividend policy sets a minimum payout level relative to cash flow while considering the financial condition of, and outlook for, the Company. When determining the amount to be paid the Board will take into consideration the underlying profitability of the Company and significant known or expected funding commitments. Specifically, the Board will aim to approve an annual dividend of at least 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.
"MAINTAINING A SUSTAINABLE DIVIDEND POLICY IS CENTRAL TO OUR STRATEGY"Ross Jerrard CFO
2022 INTERIM DIVIDEND
Consistent with the Company’s commitment to shareholders returns, the Board declared an interim dividend of 2.5 US cents per share (US$29 million) for the six months ended 30 June 2022.
Centamin continues to maintain a robust financial strategy, with available cash and liquid assets of US$175 million as at 30 June 2022 and no debt, hedging or streaming in place. The Company’s financial discipline provides the flexibility to allocate capital to shareholders’ returns, business investment and growth, and environmental and social opportunities in pursuance of our corporate purpose and strategy.
The dividend will be paid on 7 October 2022, in US Dollars ("US$") with an option for shareholders to elect to receive the dividend in Pounds Sterling ("GBP").
As Centamin continues to deliver on its growth plans, the Board reiterated its intention to recommend a minimum dividend for 2022 of 5 US cents per ordinary share with the potential for increased distribution aligned with the Company's free cash flow generation after growth capital investment. Therefore, this implies a final dividend of approximately 2.5 US cents per share (US$29 million) to be proposed with the final full year results for 2022. The final dividend will be announced with the 2022 Full Year Results in Q1 2023 and remains subject to Board recommendation and shareholder approval.
2022 Interim Dividend Timetable
In accordance with Listing Rule 9.7A.2, below is the dividend timetable.
|2022 INTERIM DIVIDEND TIMETABLE||DATE|
|EX-DIVIDEND DATE||1 SEPTEMBER 2022|
|RECORD DATE||2 SEPTEMBER 2022|
|CURRENCY ELECTIONS DEADLINE||7 SEPTEMBER 2022|
|PAYMENT DATE||7 OCTOBER 2022|
Dividend Currency Elections
Currency elections should be made no later than 7 September 2022 as per the instructions detailed above. Payments in GBP will be based on the USD/GBP exchange rate on 8 September 2022. and the rate applied will be published on the website thereafter. For those shareholders electing to receive a sterling dividend, the USD quoted exchange rate of 1.1491 will be applied by the Company when issuing sterling.
The dates set out above are based on the Directors' current expectations and may be subject to change. If any of the dates should change, the revised dates will be announced by press release and will be available at www.centamin.com.
As a Jersey incorporated company, there is no requirement for Centamin plc to make any withholding or deduction on account of Jersey tax in respect of the dividend.
The majority of our sales are transacted in British pounds ("GBP") and US dollars ("USD") is our main reporting currency and consequently the natural currency for dividend determination.
On request, shareholders of Centamin plc can elect to receive dividends in GBP. Dividends determined in US dollars are translated at exchange rates prevailing one day prior to the declaration. If such an election is made, the dividend amounts received will be calculated by converting the declared dividend using the exchange rates applicable to GBP.
UK shareholders with UK bank or building society accounts
Shareholders who wish to elect to receive GBP dividends can mandate payments directly to their UK bank or building society through the Investor Centre website or by completing the Dividend GBP Election Form and posting it back to the Registrars, in accordance with the instructions set out within the form.
Please note. The Registrars retain the mandates previously provided by shareholders and if not updated, will apply the instructions to future dividend distributions.
Global shareholders with non-UK bank or building society accounts
Shareholders who wish to elect to receive GBP dividends can mandate payments directly to their designated account through the Investor Centre website or by completing the Global Payment Service Information form and returning to the Registrars in accordance with the instructions set out within the form.
- INVESTOR CENTRE WEBSITE
- GLOBAL PAYMENT SERVICE INFORMATION
Please note. The global payment service is a service provided by the Registrars for shareholders registered on the LSE and transfer charges may apply.
Centamin has established a sustainable dividend stream of returning surplus cash to shareholders.
|DIVIDEND||STATUS||QUANTUM (US$/SHARE)||EX-DIVIDEND DATE||RECORD DATE||PAYMENT DATE||PERIOD||LINKS|
|2022 Interim||PROPOSED||0.025||1 SEPT 2022||2 SEP 2022||7 OCT 2022||H1 2022||Read more|
|2021 Final||PAID||0.05||19 MAY 2022||20 MAY 2022||10 JUNE 2022||H2 2021||Read more|
|2021 Interim||PAID||0.04||2 SEPTEMBER 2021||3 SEPTEMBER 2021||30 SEPTEMBER 2021||H1 2021||Read more|
|2020 Final||PAID||0.03||20 MAY 2021||21 MAY 2021||15 JUN 2021||H2 2020||Read more|
|2020 Second Interim||PAID||0.06||13 AUG 2020||14 AUG 2020||11 SEPT 2020||H1 2020|
|2020 First Interim||PAID||0.06||30 APR 2020||1 MAY 2020||15 MAY 2020||H2 2019||Read more|
|2019 Interim||PAID||0.04||29 AUG 2019||30 AUG 2019||27 SEPT 2019||H1 2019||Read more|
|2018 Final||PAID||0.03||18 APR 2019||22 APR 2019||13 MAY 2019||H2 2018||Read more|
|2018 Interim||PAID||0.025||30 AUG 2018||31 AUG 2018||28 SEPT 2018||H1 2018||Read more|
|2017 Final||PAID||0.10||22 MAR 2018||23 MAR 2018||6 APR 2018||H2 2017||Read more|
|2017 Interim||PAID||0.025||31 AUG 2017||1 SEPT 2017||29 SEPT 2017||H1 2017||Read more|
|2016 Final||PAID||0.135||2 MAR 2017||3 MAR 2017||31 MAR 2017||H2 2016||Read more|
|2016 Interim||PAID||0.02||8 SEPT 2016||9 SEPT 2016||7 OCT 2016||H1 2016||Read more|
|2015 Final||PAID||0.02||21 APR 2016||22 APR 2016||27 MAY 2016||H2 2015||Read more|
|2015 Interim||PAID||0.01||3 SEPT 2015||4 SEPT 2015||9 OCT 2015||H1 2015||Read more|
|2014 Final||PAID||0.02||23 APR 2015||24 APR 2015||29 MAY 2015||H2 2014||Read more|
|2014 Interim||PAID||0.009||3 SEPT 2014||5 SEPT 2014||3 OCT 2014||H1 2014||Read more|