REG - Centamin PLC - Dividend Declaration

CentaminAnnouncement

16/03/2022 07:15

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RNS Number : 8975E  Centamin PLC  16 March 2022

16 March 2022

Centamin plc

("Centamin" or "the Company")

(LSE:CEY, TSX:CEE)

 

2021 FINAL DIVIDEND AND 2022 DIVIDEND

 

Centamin is pleased to announce the Board of Directors recommend the payment
of a final dividend of 5 US cents per share, for the six months ended 31
December 2021.

2021 FINAL DIVIDEND

Consistent with the Company's stated commitment to shareholders, the Board
proposes a final dividend of 5 US cents per share (US$58 million). This will
bring the total dividend attributed to full year 2021 to 9 US cents per share
(US$105 million). The final dividend will be subject to shareholder approval
at the 2022 Annual General Meeting on 10 May 2022.

Centamin continues to maintain a robust financial strategy, with cash and
liquid assets of US$257 million as at 31 December 2021, with 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, environmental and social opportunities in pursuance of our
corporate purpose and strategy.

2022 DIVIDEND

As Centamin continues to deliver on its growth plans, the Board intends 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.

All dividends will be paid bi-annually as an interim and final dividend and
are subject to the respective Board and shareholder approvals.

2021 final Dividend Timetable(( 1 ))

Below is the final dividend timetable for the London Stock Exchange and
Toronto Stock Exchange

2022 AGM
Date                                   10
May 2022

Ex-Dividend Date:
19 May 2022

Record Date:
                20 May 2022

Last Date for Currency Elections:        25 May 2022

Payment Date:
                                    10 June
2022

Dividend Currency Elections

The dividend will be paid on 10 June 2022, in US Dollars ("USD") with an
option for shareholders to elect to receive the dividend in Pounds Sterling
("GBP"). Currency elections should be made no later than 25 May 2022 as per
the instructions detailed on the Company website (www.centamin.com
(http://www.centamin.com) ). Payments in GBP will be based on the USD/GBP
exchange rate on 26 May 2022 and the rate applied will be published on the
website thereafter.

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.

About Centamin

Centamin is an established gold producer, with premium listings on both the
London Stock Exchange and Toronto Stock Exchange. The Company's flagship asset
is the Sukari Gold Mine ("Sukari"), Egypt's largest and first modern gold
mine, as well as one of the world's largest producing mines. Since production
began in 2009 Sukari has produced circa 5 million ounces of gold, and today
has a projected mine life of 12 years.

Through its large portfolio of exploration assets in Egypt and West Africa,
Centamin is advancing an active pipeline of future growth prospects, including
the Doropo project in Côte d'Ivoire, and over 3,000km(2) of highly
prospective exploration ground in Egypt's Arabian Nubian Shield.

Centamin practices responsible mining activities, recognising its
responsibility to not only deliver operational and financial performance but
to create lasting mutual benefit for all stakeholders through good corporate
citizenship.

FOR MORE INFORMATION

Please visit the website www.centamin.com (http://www.centamin.com) or
contact:

 Centamin plc                                                 Buchanan

 Alexandra Barter-Carse, Head of Corporate Communications     Bobby Morse/ Ariadna Peretz/ James Husband

 Michael Stoner, Group Corporate Manager                      + 44 (0) 20 7466 5000

 investor@centaminplc.com (mailto:investor@centaminplc.com)   centamin@buchanan.uk.com (mailto:centamin@buchanan.uk.com)

 

Forward-looking Statements

This announcement (including information incorporated by reference) contains
"forward-looking statements" and "forward-looking information" under
applicable securities laws (collectively, "forward-looking statements"),
including statements with respect to future financial or operating
performance. Such statements include "future-oriented financial information"
or "financial outlook" with respect to prospective financial performance,
financial position, EBITDA, cash flows and other financial metrics that are
based on assumptions about future economic conditions and courses of action.
Generally, these forward-looking statements can be identified by the use of
forward-looking terminology such as "believes", "expects", "expected",
"budgeted", "forecasts" and "anticipates"." and include production outlook,
operating schedules, production profiles, expansion and expansion plans,
efficiency gains, production and cost guidance, capital expenditure outlook,
exploration spend and other mine plans. Although Centamin believes that the
expectations reflected in such forward-looking statements are reasonable,
Centamin can give no assurance that such expectations will prove to be
correct. Forward-looking statements are prospective in nature and are not
based on historical facts, but rather on current expectations and projections
of the management of Centamin about future events and are therefore subject to
known and unknown risks and uncertainties which could cause actual results to
differ materially from the future results expressed or implied by the
forward-looking statements. In addition, there are a number of factors that
could cause actual results, performance, achievements or developments to
differ materially from those expressed or implied by such forward-looking
statements; the risks and uncertainties associated with the ongoing impacts of
COVID-19 or other pandemic, general business, economic, competitive, political
and social uncertainties; the results of exploration activities and
feasibility studies; assumptions in economic evaluations which prove to be
inaccurate; currency fluctuations; changes in project parameters; future
prices of gold and other metals; possible variations of ore grade or recovery
rates; accidents, labour disputes and other risks of the mining industry;
climatic conditions; political instability; decisions and regulatory changes
enacted by governmental authorities; delays in obtaining approvals or
financing or completing development or construction activities; and discovery
of archaeological ruins. Financial outlook and future-ordinated financial
information contained in this news release is based on assumptions about
future events, including economic conditions and proposed courses of action,
based on management's assessment of the relevant information currently
available. Readers are cautioned that any such financial outlook or
future-ordinated financial information contained or referenced herein may not
be appropriate and should not be used for purposes other than those for which
it is disclosed herein. The Company and its management believe that the
prospective financial information has been prepared on a reasonable basis,
reflecting management's best estimates and judgments at the date hereof, and
represent, to the best of management's knowledge and opinion, the Company's
expected course of action. However, because this information is highly
subjective, it should not be relied on as necessarily indicative of future
results. There can be no assurance that forward-looking statements will prove
to be accurate, as actual results and future events could differ materially
from those anticipated in such information or statements, particularly in
light of the current economic climate and the significant volatility,
uncertainty and disruption caused by the outbreak of COVID-19. Forward-looking
statements contained herein are made as of the date of this announcement and
the Company disclaims any obligation to update any forward-looking statement,
whether as a result of new information, future events or results or otherwise.
Accordingly, readers should not place undue reliance on forward-looking
statements.

LEI: 213800PDI9G7OUKLPV84

Company No: 109180

 

 

 1  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 a regulatory news announcement and will be
available at www.centamin.com (http://www.centamin.com) .

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