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

Key Points

• Kinross declared a quarterly dividend of $0.04 per share, payable June 4 to shareholders of record on May 21, implying a $0.16 annualized payout and roughly a 0.5% yield.
• The company beat quarterly expectations, reporting $0.71 EPS vs. $0.68 expected and $2.37 billion in revenue (up 60.8% year‑over‑year), while posting a strong net margin (33.9%) and a low debt‑to‑equity ratio (0.08).

Kinross Gold Corporation (NYSE:KGC - Get Free Report) TSE: K announced a quarterly dividend on Wednesday, April 29th. Stockholders of record on Thursday, May 21st will be given a dividend of 0.04 per share by the mining company on Thursday, June 4th. This represents a c) annualized dividend and a dividend yield of 0.5%. The ex-dividend date of this dividend is Thursday, May 21st.

Kinross Gold has raised its dividend payment by an average of 0.0%annually over the last three years. Kinross Gold has a payout ratio of 13.0% indicating that its dividend is sufficiently covered by earnings. Analysts expect Kinross Gold to earn $2.83 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 5.7%.

Kinross Gold Price Performance

Shares of Kinross Gold stock traded up $0.56 during midday trading on Thursday, reaching $30.42. The company had a trading volume of 2,535,657 shares, compared to its average volume of 10,866,232. The company has a current ratio of 2.35, a quick ratio of 1.37 and a debt-to-equity ratio of 0.08. The company has a market capitalization of $36.32 billion, a price-to-earnings ratio of 15.54, a price-to-earnings-growth ratio of 1.53 and a beta of 0.82. The stock has a fifty day simple moving average of $32.17 and a 200 day simple moving average of $30.05. Kinross Gold has a 1-year low of $13.28 and a 1-year high of $39.11.

Kinross Gold (NYSE:KGC - Get Free Report) TSE: K last issued its quarterly earnings results on Wednesday, April 29th. The mining company reported $0.71 earnings per share for the quarter, beating analysts' consensus estimates of $0.68 by $0.03. The business had revenue of $2.37 billion during the quarter, compared to analyst estimates of $2.33 billion. Kinross Gold had a net margin of 33.90% and a return on equity of 28.22%. Kinross Gold's revenue for the quarter was up 60.8% compared to the same quarter last year. During the same quarter last year, the business posted $0.30 earnings per share. As a group, equities research analysts forecast that Kinross Gold will post 2.77 earnings per share for the current 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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