Lucara Diamond To Pay Special Dividend to Shareholders
Finance and Trade
Yesterday 09:57
Lucara Diamond's Board of Directors has approved the return of $132 million (C$172 million) to shareholders by way of a special dividend of $0.34 (C$0.45) per share to the holders of the Company's common shares. The special dividend will be paid in addition to the Company's existing progressive 2016 quarterly dividend of Canadian $0.01 (C$0.015) per share. A total dividend payment of $0.36 (C$0.465 per share is hereby declared and will be paid on September 15, 2016 to holders of record of the Company's common shares at the close of business on September 2, 2016. William Lamb, President and CEO of Lucara commented: "Lucara is rewarding its shareholders with a significant special dividend which is unprecedented in the industry and shows our commitment to rewarding our shareholders based on the Company's success in generating strong financial returns. The Karowe mine is a premier diamond deposit and continues to recover high quality stones, which is resulting in continued growth in the Company's cash balance. Following this dividend payment, we will continue to maintain a strong balance sheet and continue to seek value accretive opportunities, which includes advancing our exploration and drilling program to increase the Company's resources".
LOM Price at posting:
41.0¢ Sentiment: Buy Disclosure: Held
