Fresnillo PLC have recommended a final dividend of 24.0 US cents per Ordinary Share, which will be paid on 27 May 2022 to shareholders on the register on 29 April 2022. The dividend will be paid in UK pounds sterling unless shareholders elect to be paid in US dollars. This is in addition to the interim dividend of 9.90 US cents per share amounting to US$73.0 million. This final dividend is higher than the previous year due to the higher profit in 2021, and remains in line with the Group's dividend policy.
Other financial highlights include:
Adjusted revenue increased 9.2% over 2020 primarily due to a higher silver price.
Revenue increased 11.2% year-on-year to US$2,703.1 million due to the higher adjusted revenue combined with lower treatment and refining charges.
Adjusted production costs increased mainly as a result of a 9.6% cost inflation combined with the 5.6% average revaluation of the Mexican peso vs. US dollar.
Gross profit and EBITDA increased to US$936.9 million and US$1,206.3 million, a 6.5% and 3.2% increase over 2020.
US$1,235.3 million in cash and other liquid funds as of 31 December 2021 notwithstanding paying dividends of US$245.6 million, investing US$592.1 million in capex and spending US$130.3 million on exploration expenses to underpin their future growth.
Net cash was US$67.5 million as at 31 December 2021. This compares to the net debt position of US$97.4 million as at 31 December 2020.
