DRDGold pays its best total dividend

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CEO Niël Pretorius gives the best return to shareholders as DRDGold eyes growth and its new tailings business boosts gold output

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DRDGold, one of the world’s largest gold tailings retreatment specialists, paid its highest ever total annual dividend despite a strong start to the year getting knocked off course by the Covid-19 pandemic, CEO Niël Pretorius said on Tuesday.

Pretorius told Business Day in an interview that the total of 85c per share return, which had to be considered against the issue of 168-million shares for R1.09bn to Sibanye in January, “is the most we’ve ever paid”. was the highest yet by DRDGold. DRDGold had R1.7bn of cash on its balance sheet and no bank debt. The cash would give it a strong position in expanding the Far West Gold Recoveries business in a long-anticipated second phase of growth.

DRDGold is expediting plans for electricity storage — essentially giant batteries at its Ergo gold recovery plant — as well as intentions to generate power from solar panels.

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