Kinross Gold Corporation Declares Quarterly Dividend of $0.04 (NYSE:KGC)

Key Points

• Kinross Gold declared a quarterly dividend of $0.04 per share, payable September 3 to shareholders of record on August 20. The dividend equates to $0.16 annually and a 0.7% yield.
• The dividend appears well covered, with a current payout ratio of 13% and an expected future payout ratio of 6.1% based on projected earnings.
• Kinross reported quarterly EPS of $0.71, exceeding analysts’ $0.66 estimate, while revenue reached $2.22 billion and increased 29.5% year over year.

Kinross Gold Corporation (NYSE:KGC - Get Free Report) TSE: K declared a quarterly dividend on Wednesday, July 29th. Investors of record on Thursday, August 20th will be given a dividend of 0.04 per share by the mining company on Thursday, September 3rd. This represents a c) dividend on an annualized basis and a yield of 0.7%. The ex-dividend date is Thursday, August 20th.

Kinross Gold has increased its dividend payment by an average of 0.0%per year over the last three years. Kinross Gold has a payout ratio of 13.0% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Kinross Gold to earn $2.64 per share next year, which means the company should continue to be able to cover its $0.16 annual dividend with an expected future payout ratio of 6.1%.

Kinross Gold Price Performance

Shares of KGC opened at $23.23 on Thursday. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.83 and a current ratio of 2.84. The firm has a market cap of $27.55 billion, a PE ratio of 9.84, a PEG ratio of 0.63 and a beta of 0.78. The firm's 50 day moving average price is $25.46 and its 200 day moving average price is $30.03. Kinross Gold has a twelve month low of $15.37 and a twelve month high of $39.11.

Kinross Gold (NYSE:KGC - Get Free Report) TSE: K last announced its quarterly earnings results on Wednesday, July 29th. The mining company reported $0.71 EPS for the quarter, topping the consensus estimate of $0.66 by $0.05. The company had revenue of $2.22 billion for the quarter, compared to analyst estimates of $2.24 billion. Kinross Gold had a net margin of 35.99% and a return on equity of 32.47%. Kinross Gold's quarterly revenue was up 29.5% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.44 EPS. As a group, research analysts expect that Kinross Gold will post 2.65 EPS for the current fiscal year.

About Kinross Gold

Kinross Gold Corporation NYSE: KGC is a Toronto-based precious metals mining company primarily focused on the exploration, development and production of gold, with silver recovered as a by-product at some operations. The company's activities span the full mining lifecycle, including discovery and resource delineation, mine construction and operation, ore processing, and eventual site reclamation and closure. Kinross sells refined gold produced at its processing facilities and manages associated logistics and processing arrangements to deliver metal to market.

Kinross operates a portfolio of producing mines and development projects across multiple regions, with a significant presence in the Americas and West Africa.

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