DRDGOLD Limited (NYSE: DRD) Announces $0.16 Dividend Plan

DRDGOLD Limited (NYSE: DRD) has officially announced its latest dividend plan on February 27th. According to reports, shareholders who are on record as of March 14th will receive a dividend of $0.1628 per share by the end of the month, specifically scheduled for March 27th. The ex-dividend date is also set for March 14th.

In recent years, DRDGOLD has seen a significant decline in its dividend payments, averaging a decrease of 25.2% annually over the last three years. Despite this trend, the company's dividend payout ratio stands at 26.2%, indicating that its earnings are robust enough to cover its dividend obligations. Analysts are forecasting that DRDGOLD will report earnings of $0.90 per share in the upcoming year, which suggests that the company is expected to maintain sufficient earnings to support its annual $0.33 dividend, resulting in an anticipated future payout ratio of 36.7%.

Market Performance

On the stock market, NYSE: DRD experienced a slight decline of 0.4% on Friday, closing at $10.99. The trading volume was noted at 270,208 shares, surpassing the average trading volume of 264,651. Presently, the market capitalization of DRDGOLD is $950.18 million, with a price-to-earnings ratio of 8.72 and a beta value of 1.08. For reference, the company’s 50-day moving average stands at $9.93, while its 200-day moving average is $9.85. Over the past year, DRDGOLD's stock has fluctuated, reaching a low of $6.70 and a high of $12.70.

Analyst Viewpoints

In terms of market predictions, various analysts have revised their outlook on DRDGOLD. For instance, HC Wainwright has lowered its target price for the stock from $17.25 to $16.25 while maintaining a "buy" rating, as per their latest report dated February 19th. Similarly, StockNews.com has upgraded DRDGOLD from a "hold" to a "buy" rating in a note also released on February 19th.

About DRDGOLD Limited

DRDGOLD Limited is a gold mining company primarily engaged in the retreatment of surface gold tailings in South Africa. The company is involved in various phases including exploration, extraction, processing, and smelting of gold, primarily targeting surface tailings in the Witwatersrand basin located in Gauteng province. Originally known as Durban Roodepoort Deep Limited, the company rebranded to DRDGOLD Limited in 2004.

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