Anglo Pacific Group PLC (“Anglo Pacific”, the “Company” or the “Group”) (LSE: APF, TSX: APY), the London and Toronto listed royalty company, is pleased to announce that the directors are recommending a 25% increase in the final dividend for 2018, to be approved at the 2019 Annual General Meeting (“AGM”) on 13 May 2019.
- 25% increase in the final dividend being recommended for 2018
- Final quarterly dividend of 3.125p per share being recommended by the directors, subject to shareholder approval at the 2019 AGM
- Combined with the 4.875p per share in quarterly dividends already paid or declared in 2018, this would result in a total dividend of 8p per share for the year, a ~14% increase on the 7p per share paid in 2017
- Quarterly base dividend level of 1.625p to be retained for 2019 with the final dividend to be decided when announcing the Q4 2019 dividend
The dividend timetable for 2019 is as follows:
|Q3 2018||Q4 2018 *||Q1 2019||Q2 2019|
|Payment date||14-Feb-19||30-May-19||15 Aug 19||14 Nov 19|
|Record date||04-Jan-19||17-May-19||5 July 19||4 Oct 19|
|Ex-div date||03-Jan-19||16-May-19||4 July 19||3 Oct 19|
|* subject to shareholder approval at the 2019 AGM|
Julian Treger, Chief Executive Officer of the Company, commented:
“After a record year of income in 2018 we are pleased to recommend a 25% increase in the final dividend for 2018, bringing the total dividend for the year to 8p per share. In arriving at this number, we took into account a very strong set of results for 2018 along with the prospect of meaningful growth from Kestrel in 2019, as announced in our recent Q4 2018 trading update.
We are mindful of balancing our growth ambitions with rewarding our shareholders for their continued support and feel that this level of dividend provides healthy dividend cover in excess of 2 times while allowing us to recycle income into growth opportunities. Growth remains the firm focus for 2019.”
This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014 (as amended)
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