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Central Asia Metals – A consistent dividend payer with a high yield

Central Asia Metals (CAML) has increased its annual dividend by 24% year-on-year, to 15.5p per share, providing shareholders with a 6.6% yield. The company recorded its fifth consecutive year of profits and has paid out dividends in excess of the funds it raised in its 2010 initial public offering (IPO).

CAML’s main asset is its Kounrad copper dump treatment operation, in Kazakhstan, which produces copper through a solvent extraction – electrowinning (SX-EW) plant.

CAML appears to have a long and stable future production profile and, if this continues, as one of the lowest-cost copper producers in the industry, it should continue to deliver a high dividend yield for many years. It currently outperforms its peer group of copper producers on most value metrics and has a better EBITDA margin and dividend yield than some of the more prominent London-listed copper producers.

Although ex-production growth, CAML says that it is looking prudently at opportunities to grow its output. The company had cash of US$40 million at the end of 2016 and is debt-free.

About Central Asia Metals

CAML’s primary focus is a low-cost, copper dump treatment operation associated with the Kounrad copper mine, in Kazakhstan. Elsewhere in Kazakhstan, the company is exploring a copper prospect and, in Chile, it holds a 75% interest in Copper Bay Ltd, a private company that has completed a feasibility study on a copper tailings treatment project. CAML was incorporated in the UK in 2005 and in 2007 successfully tendered for a 60% interest in the Subsoil Use Contract (SUC) at Kounrad, which allowed it to explore and process the mineralised dumps.

You can access the company’s website by clicking here

CAML : Central Asia Metals – A consistent dividend payer with a high yield