|
RAPAPORT... Lucara Diamond Corporation plans to hold its first exceptional rough diamond tender, including 20 individual diamonds for a combined weight of 1,191.71 carats, on April 10. Diamond viewing will take place in Gaborone from March 25 to 28 and in Antwerp from April 2 to 10. The largest stone is a 167.08-carat diamond (lot 401) and the smallest is 16.32-carats (lot 415), according to the sale brochure. Additionally, Lucara's board approved a dividend policy providing for the payment of semi-annual dividends. The policy also covers a special dividend based on revenue generated from these exceptional stone tenders, subject to the company's overall financial position. Lucara intends to declare its first semi-annual dividend of 2 cents per share in May for payment in June. This proposed dividend payment and the payment of any cash dividend under the policy is subject to the board's determination. William Lamb, the president and CEO of Lucara, said, "The intention of the board to declare a maiden dividend payment is a significant step forward for Lucara. The adoption of a dividend policy demonstrates our confidence in our business, recognizes the quality and cash flow generation of the company's asset and our commitment to our shareholders. With Karowe's operational performance and cash flow generation ability, we believe that Lucara is well positioned to provide a return to our shareholders while continuing to seek growth opportunities."
|