Anglo Asian Mining PLC decides on payment of dividends to shareholders
Baku, Azerbaijan, Feb. 26
By Azad Hasanli - Trend:
Anglo Asian Mining PLC, a gold, copper and silver producer in Azerbaijan, has decided on the payment of dividends for 2018 and 2019, Trend reports Feb. 26 with reference to the company.
The company will declare a minimum final dividend of 3 cents per share for 2018 and a minimum total dividend of 6 cents per share for 2019, according to the report.
The final dividend for 2018 will be paid in July 2019 following approval at the company's annual general meeting June 20, 2019.
Presently, the company’s capital is formed of 114,392,024 shares.
The company’s current CEO Reza Vaziri is its biggest shareholder, he owns 28.67 percent of the shares. The biggest shareholders also include John Sununu (9.38 percent), Limelight Industrial Developments (3.53 percent), non-executive chairman of the company Khosrow Zamani (1.24 percent), Richard Round (0.3 percent) and John Monhemius (0.3 percent).
Last year, the AAM mined 83,736 ounces in gold equivalent in Azerbaijan, with a forecast of 78,000-84,000 ounces. Actual gold production was 72,798 ounces in 2018.
Based on a production sharing agreement signed with Azerbaijani government in August 1997, Anglo Asian Mining PLC has the right to develop six fields in Azerbaijan: Gadabay, Ordubad, Gosha Bulag, Gizil Bulag, Vejnali and Soyutlu.
The gold produced at the fields is sent to Switzerland for purification. The ingots are delivered to Azerbaijan and are stored in the government’s account.
Follow the author on Twitter: @Hasanli_Azad