Ariana Resources PLC (LON:AAU) is planning to pay a special dividend in three tranches, subject to the completion of the previously announced capital reduction process, which is being finalised in July 2021.
The first tranche of the special dividend of 0.35p per ordinary share will be declared as an interim dividend and paid during the third quarter of this year.
The second tranche of 0.175p is intended as a second interim dividend and paid six months thereafter.
The final tranche of 0.175p will be proposed for approval at the 2021 annual general meeting.
“Today is a momentous occasion in Ariana’s history, and we are exceptionally pleased to be able to announce the details of the company’s dividend distribution plan,” said Ariana’s managing director Dr Kerim Sener.
“This is a testament to the success of Ariana’s exploration, development and production strategy which has brought us to a position that very few Aim-listed resources companies find themselves in; with a producing asset and able to provide a return to our loyal shareholders. In line with our growth strategy going forward, we also hope to distribute future dividends arising from ongoing profits generated by our existing operations and those arising out of future undertakings.”