DRDGOLD Limited (NYSE:DRD) Plans Dividend Increase – $0.11 Per Share

DRDGOLD Limited (NYSE:DRD) announced a semi-annual dividend on Tuesday, August 27th, Wall Street Journal reports. Investors of record on Friday, September 13th will be given 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 of this dividend 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% per year over the last three years. DRDGOLD has a payout ratio of 22.1% indicating that its dividend is sufficiently covered by earnings. Research 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 Performance

Shares of DRD stock traded down $0.02 during trading hours on Tuesday, hitting $8.48. The company had a trading volume of 211,978 shares, compared to its average volume of 307,892. DRDGOLD has a 12 month low of $6.48 and a 12 month high of $10.82. The firm’s fifty day moving average is $9.31 and its 200 day moving average is $8.51. The firm has a market capitalization of $733.17 million, a price-to-earnings ratio of 8.15 and a beta of 1.06.

Analysts Set New Price Targets

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

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.