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Sibanye Gold ups dividend, earnings fall

Feb 19 2015 11:27

(Shutterstock)

Company Data

Sibanye Gold Limited [JSE:SGL]

Last traded 28
Change 1
% Change 5
Cumulative volume 37763738
Market cap 0

Last Updated: 01/01/0001 at 12:00. Prices are delayed by 15 minutes. Source: McGregor BFA

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Johannesburg - Sibanye Gold [JSE:SGL] reported on Thursday a 60% decline in second-half headline earnings per share because of impairments to some operations, investments in a refinery as well as an additional tax payment.

The company said headline earnings per share, which strip out certain once-off items, totalled 8 US cents from 20c in the previous comparable period.

Normalised earnings, from which Sibanye's dividends are calculated, edged down 5% year-on-year to R1.2bn but the company still declared a dividend that was 22% higher for the year.

"The approximate R1bn total dividend declared for 2014 is 22% higher than the dividend declared in 2013 and equivalent to an industry leading 3.7% dividend yield at 18 February 2015," the company said.

Sibanye is regarded as a cash-rich dividend play focusing on older assets which will not require the capital expenditure that a new mine would need.

sibanye gold  |  mining  |  earnings reports
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