Cashed-up Evolution Mining changes dividend policy

Brad ThompsonReporter

Aug 15, 2019 – 9.57am

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Key Points

Revenue ($b) $1.51 , down -1.9%
Pre-tax profit ($m) $314.8 , down -7.1%
Net profit ($m) $218.2 , down -17.2%
Final dividend (c) 6.00 , up 50.0%
Date dividend payable Sept 29

Evolution Mining boss Jake Klein has indicated the gold miner will stick to a "cash is king" approach in revealing a change in the company’s dividend policy that is set to deliver significantly higher returns to shareholders at least in the short term.

Analysts said healthy dividends were likely to continue based on Evolutions's new free cash flow-based distribution policy and with the company and its peers in uncharted territory in terms of the gold price.

Brad Thompson was a reporter at The Australian Financial Review