Harmony to maintain momentum as it pays interim dividend

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Kusasalethu gold mine near Carletonville, where 486 employees working underground were rescued following a fire. (Photo: Harmony Gold)
Kusasalethu gold mine near Carletonville, where 486 employees working underground were rescued following a fire. (Photo: Harmony Gold)

Cape Town – Harmony Gold [JSE:HAR] announced an interim dividend of 50c and posted strong headline earnings (Heps) amid a speed-up in production as it pays off debt.

Harmony said its Heps was R1.50 in the six months ended 31 December 2016, compared to R3.24 for previous six months. It said in a statement on Thursday that this “is more than a 100% higher than the headline loss of R1.03 reported in the previous comparable period in 2015”. Its year-end Heps on 30 June was R2.21, when it also paid a 50c dividend.

Six-month gold production increased by 8% to 17 227kg (553 862 oz), compared to 15 974kg (513 576oz) for the six months ended June 2016.

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