Beadell pays dividend despite profit dive
Beadell Resources will pay a maiden dividend of one cent a share unfranked despite the gold miner unveiling an 88 per cent plunge in full-year profit.
The Brazil-focused gold miner posted a profit of $13.5 million for 2014, down from $113.5 million the previous year.
The fall was attributed to a lower gold price, higher costs of production, losses on derivatives, unfavourable currency movements and higher tax charges.
Revenue was up 3 per cent over the year to $260.2 million.
The company posted underlying EBITDA of $115 million down from $148.4 million the previous year.
Beadell lifed its cash and bullion reserves to $71.7 million at the end of December from $19.3 million the previous year.
The company issued 2015 full-year gold sales guidance of 170,000-190,000 ounces at all-in sustaining costs of $US810-$US890 an ounce.
Shares in Beadell were off 1.5 cents, or 4.35 per cent, to 33 cents at 8.50am.
