QuotedData: Central Asia Metals Increases Its Annual Dividend To 15.5p Per Share
Central Asia Metals PLC – Update research from QuotedData
25th April 2017
A consistent dividend payer with a high yield
Central Asia Metals (CAML) has increased its annual dividend by 24% year-on-year, to 15.5p per share, providing shareholders with a 6.6% yield. The company recorded its fifth consecutive year of profits and has paid out dividends in excess of the funds it raised in its 2010 initial public offering (IPO). CAML’s main asset is its Kounrad copper dump treatment operation, in Kazakhstan, which produces copper through a solvent extraction – electrowinning (SX-EW) plant.
CAML appears to have a long and stable future production profile and, if this continues, as one of the lowest-cost copper producers in the industry, it should continue to deliver a high dividend yield for many years. It currently outperforms its peer group of copper producers on most value metrics and has a better EBITDA margin and dividend yield than some of the more prominent London-listed copper producers. Although ex-production growth, CAML says that it is looking prudently at opportunities to grow its output. The company had cash of US$40 million at the end of 2016 and is debt-free.
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NB: this note has been prepared for Central Asia Metals by Marten & Co and is for information purposes only. It is not intended to encourage the reader to deal in the security or securities mentioned in this report. Please read the important information at the back of this note. QuotedData is a trading name of Marten & Co Limited which is authorised and regulated by the FCA. Marten & Co is not permitted to provide investment advice to individual investors.