DRDGOLD Limited (DRD) To Go Ex-Dividend on September 13th

DRDGOLD Limited (NYSE:DRD) announced a semi-annual dividend on Monday, August 26th, Wall Street Journal reports. Investors of record on Friday, September 13th will be paid a dividend of 0.1126 per share by the basic materials company on Thursday, September 26th. This represents a yield of 1.9%. The ex-dividend date is Friday, September 13th. This is a positive change from DRDGOLD’s previous semi-annual dividend of $0.11.

DRDGOLD has decreased its dividend by an average of 3.7% annually over the last three years. DRDGOLD has a payout ratio of 22.1% meaning its dividend is sufficiently covered by earnings. Equities analysts expect DRDGOLD to earn $1.01 per share next year, which means the company should continue to be able to cover its $0.21 annual dividend with an expected future payout ratio of 20.8%.

DRDGOLD Stock Down 2.5 %

Shares of NYSE DRD traded down $0.21 during midday trading on Wednesday, reaching $8.27. 185,307 shares of the company were exchanged, compared to its average volume of 307,153. The stock’s 50-day moving average price is $9.31 and its 200-day moving average price is $8.52. DRDGOLD has a one year low of $6.48 and a one year high of $10.82. The stock has a market cap of $715.02 million, a P/E ratio of 8.15 and a beta of 1.06.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on DRD shares. HC Wainwright cut their target price on DRDGOLD from $15.50 to $13.25 and set a “buy” rating on the stock in a report on Thursday, August 22nd. StockNews.com cut shares of DRDGOLD from a “buy” rating to a “hold” rating in a research note on Thursday, August 15th.

About DRDGOLD

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.