DRDGOLD Limited (NYSE:DRD) Raises Dividend to $0.23 Per Share

DRDGOLD Limited (NYSE:DRD) announced an annual dividend on Friday, August 22nd, Wall Street Journal reports. Stockholders of record on Friday, September 12th will be paid a dividend of 0.2269 per share by the basic materials company on Monday, September 22nd. This represents a dividend yield of 170.0%. The ex-dividend date is Friday, September 12th. This is a 39.4% increase from DRDGOLD’s previous annual dividend of $0.16.

DRDGOLD has a payout ratio of 21.6% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect DRDGOLD to earn $0.90 per share next year, which means the company should continue to be able to cover its $0.33 annual dividend with an expected future payout ratio of 36.7%.

DRDGOLD Stock Performance

Shares of NYSE:DRD opened at $21.66 on Wednesday. DRDGOLD has a 52 week low of $7.64 and a 52 week high of $21.87. The company’s fifty day moving average is $15.70 and its 200-day moving average is $14.82.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. D.A. Davidson & CO. acquired a new position in DRDGOLD during the 1st quarter valued at about $350,000. Ameriprise Financial Inc. lifted its position in DRDGOLD by 10.0% during the 4th quarter. Ameriprise Financial Inc. now owns 15,779 shares of the basic materials company’s stock valued at $136,000 after purchasing an additional 1,438 shares during the period. GAMMA Investing LLC lifted its position in DRDGOLD by 52.9% during the 1st quarter. GAMMA Investing LLC now owns 4,953 shares of the basic materials company’s stock valued at $77,000 after purchasing an additional 1,713 shares during the period. Dimensional Fund Advisors LP lifted its position in DRDGOLD by 28.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 103,465 shares of the basic materials company’s stock valued at $893,000 after purchasing an additional 23,138 shares during the period. Finally, Millennium Management LLC lifted its position in DRDGOLD by 61.7% during the 4th quarter. Millennium Management LLC now owns 53,669 shares of the basic materials company’s stock valued at $463,000 after purchasing an additional 20,475 shares during the period. 14.70% of the stock is currently owned by institutional investors and hedge funds.

DRDGOLD Company Profile

DRDGOLD Limited, a gold mining company, engages in the surface gold tailings retreatment business in South Africa. It also involved in the exploration, extraction, processing, and smelting activities. The company recovers gold from surface tailings in the Witwatersrand basin in Gauteng province. DRDGOLD Limited was formerly known as Durban Roodepoort Deep Limited and changed its name to DRDGOLD Limited in 2004.