Gold Fields appeases shareholders with dividend policy change
Investment company Redwheel, in an open letter, urged the company not to buy Yamana Gold as the deal was too expensive and 'the firm should rather focus on returning cash to shareholders'
17 July 2022 - 07:14
Gold Fields is working around the clock to ensure its proposed $6.7bn (R114.3bn) acquisition of Canadian producer Yamana Gold crosses the finish line and this week announced measures to bolster sentiment towards the deal among apprehensive shareholders.
The group on Monday unveiled changes to its dividend policy to ensure payment of between 30% and 45% of normalised earnings, saying it would pay a dividend at the top end of the revised policy next year, after the proposed acquisition takes effect...
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