13th Dec 2018 11:40
LONDON (Alliance News) - Highland Gold Mining Ltd is to pay a 5 pence second interim dividend for 2018, the company said on Thursday.
This payout, at the exchange rate Highland is using, is equal to 6 US cents, flat compared to the first interim dividend paid in 2018.
Exactly a year ago, Highland said it had adopted a new dividend policy. Its full year payout would be equal to 20% of net cash flow. In 2017, it paid a total of 10.40p in dividends, flat year-on-year.
Highland Gold has three producing mines in Russia: Mnogovershinnoye, Belaya Gora, and Novoshirokinskoye. MNV and Belaya Gora are in the far eastern Khabarovsk region, and Novoshirokinskoye is in the neighbouring Zabaikalsky region.
Highland also has exploration assets in the far north-east, in the Chukotka region, in Zabaikalsky, and in Kyrgyzstan.
Shares were up 4.6% on Thursday at a price of 156.10 pence each.
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