Tomorrow is the anniversary of NMT's last dividend announcement, and I believe we can reasonably expect that a 2017 dividend announcement is imminent.
Neometals Declares 2 cent Unfranked Dividend
11 August 2016
"NMT… is pleased to advise that it has declared an unfranked dividend of 2 cents per share… total amount paid to shareholders will be approx. $11.3M."
http://www.neometals.com.au/reports/674-CR110816.pdf
Why pay a dividend now?
- NMT has $46M in cash, plus net receivables and listed securities of $16.5M
- Mt Marion is now cash flow positive
- Mt Marion is now receiving higher pricing from Ganfeng US$841/t up from US$750/t
- Mt Marion 4% floatation plant upgrade commissioning on track to lift all output to 6% grade
- Throughput of the beneficiation plant surpassing nameplate, on track for 400kt p/a
- All other current programs are fully funded from cash
A dividend would be consistent with NMT board policy, as the company has previously returned surplus cash to shareholders via two x 2c dividends in 2016.
NMT: dividend due (tomorrow?)
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