AngloGold Ashanti boosted its first half dividend payment by 450% on Tuesday after higher gold prices and increased production drove earnings.
AngloGold Ashanti posted headline earnings of $313 million in the six months to June 30, up from $61 million a year earlier.
The gold miner declared an interim dividend of 22 cents per share, up from 4 cents per share during the same period of 2023.
AngloGold Ashanti said improvements in gold production and cost performance, coupled with a turnaround at its Brazil operations had boosted its income. It also pointed to higher average gold prices received during the period.
The price of the precious metal has risen almost 19% since the beginning of the year, peaking at $2,483.60 on July 17, driven by demand from institutional investors, high net-worth individuals and central bank purchases.
Spot gold was trading at $2,413.38 an ounce at 1029 GMT.
AngloGold Ashanti said a 12% surge in gold output during the second quarter pushed half-year production nearly 2% higher to 1.254 million ounces. The company has maintained its annual production guidance of between 2.59 million and 2.79 million ounces of gold.
(Reporting by Nelson Banya; Editing by Kirsten Donovan)
