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Pan African Resources raises dividend after posting record profits

The miner grew production, set a new profit record and announced its highest ever dividend payout.

Pan African Resources PLC - Pan African Resources results show record profits

Pan African Resources PLC (AIM:PAF, OTCQX:PAFRY, JSE:PAN, FRA:RTZ, OTCQX:PAFRF) posted a record profit due to higher gold production as it proposed its highest ever dividend.

The miner produced a total of 201,777 ounces of gold in the twelve months ended June 30, up 12.4% and posted a net profit after tax of US$74.7mln, a company record. Earnings per share grew 68.3% to 3.87 American cents and operating profit was up 36% to US$128mln. The company lifted its final dividend 28.5%, to a total pay-out of US$28.3mln.

“We are, once again, pleased to report major positive strides in Pan African’s operational and financial performance, despite the challenges of the ongoing COVID-19 pandemic,” said chief executive Cobus Loots.

“The operational flexibility afforded by our multiple producing assets has enabled the group to improve margins, achieve record profits and realise our second-highest annual gold production.

“We are also proposing our highest-ever dividend for approval at the upcoming annual general meeting.”

Quick facts: Pan African Resources PLC


Price: 15.66 GBX

Market Cap: £301.98 m

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Pan African Resources doubles production, reporting record profit with a...

Pan African Resources PLC (AIM:PAF, OTCQX:PAFRY, JSE:PAN, FRA:RTZ, OTCQX:PAFRF) (AIM:PAF, OTCQX:PAFRY, JSE:PAN, FRA:RTZ, OTCQX:PAFRF) chief executive Cobus Loots joins Proactive London after reporting record profit due to higher gold production.  The miner produced a total of 201,777 ounces...

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