DRDGOLD Limited (NYSE:DRD) Plans Semi-annual Dividend of $0.11

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 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 boost from DRDGOLD’s previous semi-annual dividend of $0.11.

DRDGOLD has decreased its dividend payment by an average of 3.7% annually over the last three years. DRDGOLD has a dividend payout ratio of 22.1% indicating that 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 0.2 %

DRD stock traded down $0.02 during midday trading on Tuesday, hitting $8.48. The company’s stock had a trading volume of 211,978 shares, compared to its average volume of 307,892. The firm has a market capitalization of $733.17 million, a price-to-earnings ratio of 8.15 and a beta of 1.06. DRDGOLD has a 12 month low of $6.48 and a 12 month high of $10.82. The company has a 50 day moving average of $9.31 and a two-hundred day moving average of $8.51.

Wall Street Analyst Weigh In

DRD has been the subject of several research analyst reports. HC Wainwright cut their target price on shares of DRDGOLD from $15.50 to $13.25 and set a “buy” rating for the company in a research note on Thursday, August 22nd. StockNews.com lowered shares of DRDGOLD from a “buy” rating to a “hold” rating in a report on Thursday, August 15th.

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.