Pan African Resources PLC (LON:PAF) to Issue Dividend Increase – GBX 0.96 Per Share

Pan African Resources PLC (LON:PAF) announced a dividend on Wednesday, September 11th,Upcoming Dividends.Co.Uk reports. Investors of record on Thursday, November 28th will be paid a dividend of GBX 0.96 ($0.01) per share on Tuesday, December 10th. This represents a dividend yield of 3.22%. The ex-dividend date is Thursday, November 28th. This is a positive change from Pan African Resources’s previous dividend of $0.75. The official announcement can be accessed at this link.

Pan African Resources Stock Performance

PAF stock opened at GBX 36.02 ($0.45) on Wednesday. The stock’s 50 day simple moving average is GBX 34.73 and its 200 day simple moving average is GBX 29.89. The company has a current ratio of 0.71, a quick ratio of 0.74 and a debt-to-equity ratio of 36.10. Pan African Resources has a 12-month low of GBX 15 ($0.19) and a 12-month high of GBX 39.25 ($0.49). The stock has a market capitalization of £691.60 million, a PE ratio of 1,201.67, a price-to-earnings-growth ratio of 8.95 and a beta of 0.89.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on PAF. Berenberg Bank reaffirmed a “buy” rating and set a GBX 38 ($0.48) price target on shares of Pan African Resources in a report on Wednesday, August 14th. Canaccord Genuity Group reissued a “buy” rating and issued a GBX 35 ($0.44) target price on shares of Pan African Resources in a research report on Wednesday, September 11th.

About Pan African Resources

Pan African Resources PLC engages in the mining, extraction, production, and sale of gold in South Africa. The company's flagship projects include the Barberton Mines that consists of three underground mines, including Fairview, Sheba, and Consort located in the Barberton Greenstone Belt; and Elikhulu tailings retreatment plant in Southern Africa.