Randgold proposes 52% dividend-payout increase as FY16 profits rise 38%

Africa-focused Randgold Resources has increased production for the sixth consecutive year in 2016, while reducing total cash cost per ounce, and remains upbeat about its future prospects despite global uncertainties. Speaking to Mining Weekly Online on the sidelines of the Investing in African Mining Indaba, on Monday, CEO Dr Mark Bristow noted that, with profits of $294.2-million up 38% on the previous year, the board had proposed a 52% increase in the dividend to $1 a share from $0.66 a share in the previous year.