AngloGold Ashanti PLC (NYSE:AU) Raises Dividend to $1.16 Per Share

Key Points

• AngloGold Ashanti declared a quarterly dividend of $1.16 per share, payable June 12 to shareholders of record on May 29, with the ex-dividend date also set for May 29.
• The new payout is a 570.5% increase from the prior quarterly dividend of $0.17 and implies an annualized dividend yield of about 4.3%.
• The company’s latest results showed Q1 earnings of $1.90 per share, matching expectations, while revenue came in above estimates at $3.07 billion; shares rose 6.9% in midday trading.

AngloGold Ashanti PLC (NYSE:AU - Get Free Report) declared a quarterly dividend on Friday, May 8th. Stockholders of record on Friday, May 29th will be paid a dividend of 1.16 per share by the mining company on Friday, June 12th. This represents a c) dividend on an annualized basis and a dividend yield of 4.3%. The ex-dividend date of this dividend is Friday, May 29th. This is a 570.5% increase from AngloGold Ashanti's previous quarterly dividend of $0.17.

AngloGold Ashanti has increased its dividend payment by an average of 1.0%per year over the last three years. AngloGold Ashanti has a dividend payout ratio of 216.3% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Research analysts expect AngloGold Ashanti to earn $8.76 per share next year, which means the company should continue to be able to cover its $6.92 annual dividend with an expected future payout ratio of 79.0%.

AngloGold Ashanti Stock Up 6.9%

Shares of NYSE AU traded up $6.91 during mid-day trading on Friday, reaching $107.14. 2,727,823 shares of the company traded hands, compared to its average volume of 2,949,501. The company has a debt-to-equity ratio of 0.20, a quick ratio of 2.20 and a current ratio of 2.87. The stock has a market cap of $54.09 billion, a PE ratio of 20.64 and a beta of 0.60. The company's fifty day moving average is $101.71 and its two-hundred day moving average is $93.62. AngloGold Ashanti has a fifty-two week low of $38.61 and a fifty-two week high of $129.14.

AngloGold Ashanti (NYSE:AU - Get Free Report) last issued its quarterly earnings data on Friday, February 20th. The mining company reported $1.90 EPS for the quarter, meeting analysts' consensus estimates of $1.90. The business had revenue of $3.07 billion for the quarter, compared to analyst estimates of $2.99 billion. AngloGold Ashanti had a return on equity of 29.11% and a net margin of 26.65%. On average, analysts expect that AngloGold Ashanti will post 8.79 earnings per share for the current year.

AngloGold Ashanti Company Profile

AngloGold Ashanti is a global gold mining company engaged in the exploration, development, production, processing and sale of gold. Headquartered in Johannesburg, South Africa, the company’s core activities span the full mining value chain from greenfield exploration and mine development through to ore processing and rehabilitation. Gold is the primary commodity produced, with individual operations sometimes yielding other by‑products depending on local geology and processing methods.

The company was formed in 2004 through the merger of AngloGold and Ashanti Goldfields, creating a diversified international gold producer.

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