Nickel Industries logs best ever daily gain on record output, buyback

Nickel Industries

30/01/2024 02:26

(Updates with latest share moves throughout, final dividend in
bullet 5)
** Shares of Australia's Nickel Industries  NIC.AX  rise as much
as 23.33% to A$0.740, marking their best ever intraday gain
        ** NIC second biggest gainer in the ASX 200 benchmark
index; touches its highest level since Nov. 24, 2023
  
    ** Trading 22.1% higher at A$0.7325 as at 0154 GMT
    ** Nickel miner reports record output of 34,450 metric tons
from its rotary kiln electric furnace for December quarter
        ** Announces final dividend for 2023 of 2.5 AU cents per
share
  
    ** Intends to start an on-market share buyback of up to $100
mln over 12 months
    ** Adds intends to return between 30% and 60% of its free
cash flow to shareholders via regular dividends
    ** Stock among top gainers on benchmark S&P/ASX 200 index
 .AXJO  
    ** Stock has fallen 13.7% this year as of last close
    

 (Reporting by Shivangi Lahiri in Bengaluru)
 ((shivangi.lahiri@thomsonreuters.com))