Lucara Aiming to Raise Dividend Payment to Shareholders in 2017

(IDEX Online) – Lucara Diamond Corp said it plans to increase its dividend in 2017 following a successful 2016.

William Lamb, President and Chief Executive Officer, commented, "2016 has been a successful year for Lucara with strong cash flows driven by revenues from the south lobe supported by our continued focus on cost control. Our performance resulted in a special dividend payment in 2016 and we anticipate increasing our 2017 dividend from CAD $0.06 per share to CAD $0.10 per share.

"2017 sees our focus on advancing the push back in the pit at the Karowe mine, which is forecast to be complete by the end of 2018, giving us full access to the high value south lobe ore and a significant reduction in waste mining going forward. Our exploration and drilling programs for resource extension are progressing and we look forward to announcing those results in 2017."

The miner forecasts revenue of $200 million to $220 million for 2017, excluding the sale of the 1,100-carat Lesedi La Rona diamond. 

The Company anticipates it will declare an annual dividend in 2017 of CAD $0.10 per share to be paid in four equal payments at the end of each financial quarter.