Randgold Q4 Profit Rises; Recommends To Increase Dividend - Quick Facts

(RTTNews) - Randgold Resources Ld (RRS.L) reported fourth-quarter profit before income tax of $127.79 million compared to $70.49 million, previous year. Profit attributable to owners of the parent increased to $78.52 million or $0.83 per share from $44.53 million or $0.47 per share, from last year.

Fourth-quarter total revenues were $356.39 million compared to $272.09 million, a year ago. Gold production was up 3% year on year. Gold sales rose to $453.05 million from $354.76 million, prior year.

Randgold's board has recommended an annual dividend for the period ended 31 December 2016 of $1.00 per share, up 52% on the previous year's $0.66. The dividend will be paid in cash with no script alternative being made available.

Chief executive Mark Bristow noted that Randgold had passed its net cash target of $500 million, with $516.3 million in the bank at the end of 2016, and no debt.