DRDGold Ltd.'s board declared an interim cash dividend of 5 South African cents per share for the six months ending Dec. 31, 2017, after posting headline earnings of 60.4 million South African rand, or 14.3 cents per share, for the first half of its fiscal 2018.
The period's earnings compare to the 10.2 million rand headline loss booked in the same period of fiscal 2017. DRDGold CEO Niël Pretorius called the previous fiscal year "challenging," leading the company to cut the final dividend for the year to 5 cents per share from 12 cents in fiscal 2016.
In a Feb. 15 statement, DRDGold attributed its six-month earnings to a 6% year-on-year rise revenues to 1.25 billion rand, an 11% increase in gold output to 75,267 ounces and lower all-in sustaining costs of US$1,187 per ounce, among others. For full fiscal 2018, the company aims to produce between 147,000 and 153,000 ounces of gold at a cash operating cost of approximately 475,000 rand per per kilogram.
DRDGold will pay the first-half dividend March 19 to shareholders on record as of March 16.