DRDGold maintains its dividend record

JOHANNESBURG – DRDGold maintained 13 consecutive years of paying a dividend after declaring a 35 cents-a-share final dividend during the year ended June 2020 on a four-fold jump in operating profits and a mushrooming in market capitalisation.

The share price leapt nearly 5 percent in intraday trade on the JSE on the results to R26.51, closing the day at R24.56.

DRDGold, which is 50.1 percent owned by Sibanye-Stillwater, also declared interim dividends of 50c per share for the year ended June 30, 2020, bringing the total dividend to 85c per share.

Chief executive Neil Pretorius said the year under review had been one of extreme contrasts, citing that the first half was characterised by solid performance and a sense of confidence about the group’s ability to maintain this, but by the middle of the third quarter the Covid-19 pandemic was upon the industry.

“Amid the fear, uncertainty and challenges since March, investors globally have turned to gold and gold stock. This has handsomely reflected in our revenue and margin for the year,” said Pretorius.