That was the message from the company management at the conference by the interim report.
“We continue to have a positive attitude to pay dividends, but to do it with the last year’s volatility in metal prices would not make sense. When the metal markets now strengthened the issue will definitely be back on the agenda, “said CEO Paul Conibear at Thursday’s presentation of results.
the company has, however, a number of internal projects – the expansion of zinc production in Portugal, expansion at Eagle mine in Michigan and a possible expansion at Chilean Candelaria – which requires a portion of the capital budget. In addition, outstanding bond loans with high interest rate could be bought back.
“It’s good to have cash on hand to finance at least a part of all this,” said Paul Conibear.
funds will be returned to shareholders is a pure dividend more probable than share buybacks.
“We exclude nothing, but our studies of other repurchase of the industry shows that it is rare for them are successful. most likely, a pure dividend, starting at modest levels and then increasing, “said Lundin boss.
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