St Barbara Ltd. on Aug. 7 unveiled a dividend policy and reinvestment plan ahead of the release of its full-year financial results Aug. 23.

The company declared a fully franked dividend of 6 Australian cents per share for the year, payable Sept. 28 to shareholders on record as of Sept. 7.

The dividend reinvestment plan enables eligible shareholders to reinvest part of their dividend into company shares.

A 2% discount to the five-day volume weighted average price will apply to allotments made under the plan for the final 2017 dividend.

The company flagged in February that it will consider a dividend payout after the repayment of the final US$20 million in aggregate principal of its U.S. 144A senior secured notes, The West Australian reported.

St Barbara recently posted record production of 381,101 ounces of gold for the 2017 financial year as its Gwalia and Simberi mines topped their respective output forecasts.