Gold miner Tribune Resources (ASX:TBR) will pay a dividend of $0.20 per share to shareholders, fully franked at the company tax rate of 30%.
The dividend will be paid on 16 December 2024.
Dividends are the percentage of a company’s earnings that is paid to shareholders as their share of profits. Dividends are generally paid quarterly, with the amount decided by the board of directors based on the company’s most recent earnings.
As of 30 September 2024, Tribune had $12.031 million cash and cash equivalents at hand, according to its latest quarterly report.
Tribune, which has a market capitalisation of $261.29 million, says the declaration of future dividends remains at the discretion of its board and is subject to maintaining priorities.
These priorities include meeting all financial commitments to its projects, overhead, compliance and regulatory costs, as well as the ability to assess new opportunities.
Tribune Resources is focused on its three gold projects, including the Japa and Diwalwal projects, as well as the East Kundana joint venture with Northern Star Resources (ASX:NSR) subsidiary Gilt Edge Mining and Rand Mining (ASX:RND).
East Kundana sits in Western Australia and comprises two producing underground mines dubbed Raleigh and Rubicon-Hornet-Pegasus.
The Japa Project is located in the western region of Ghana and covers 26.2km2, while the Diwalwal Project is located in the Philippines.
Write to Aaliyah Rogan at Mining.com.au
Images: Tribune Minerals
