Jupiter Mines (ASX:JMS) - CEO & Executive Director, Priyank Thapliyal
CEO & Executive Director, Priyank Thapliyal
Sourced: Proactive Investors
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  • A Jupiter Mines (JMS) investee has declared a final dividend to its shareholders of ZAR$1.1 billion (A$97 million)
  • The investee, Tshipi é Ntle Manganese Mining Proprietary, will give Jupiter ZAR$521.5 million (around A$46 million) in dividends
  • Jupiter will also receive ZAR$521.5 million (nearly A$3 million) in marketing profits
  • The board will now consider a dividend to Jupiter shareholders
  • On the market today, Jupiter is up 1.45 per cent and is trading at 35 cents per share

A Jupiter Mines (JMS) investee has declared a final dividend to its shareholders of ZAR$1.1 billion (A$97 million).

As a result, the investee, Tshipi é Ntle Manganese Mining Proprietary, will award Jupiter ZAR$521.5 million (around A$46 million) in dividends.

Additionally, Jupiter will also receive ZAR$521.5 million (nearly A$3 million) in marketing profits.

Throughout the financial year Tshipi faced the uncertainty of COVID-19, mining challenges, excessive rain and weak manganese prices but managed to remain profitable and cash positive.

At the end of the 2021 financial year, Tshipi will have around ZAR$675 million (approx. A$60 million), after dividend payments.

“The Tshipi board has not yet made a decision on the expansion study in light of
further areas of the study to be explored,” Jupiter told the market this morning.

Over the past five years, Tshipi distributed ZAR$9.26 billion (A$820 million) against its construction costs of around ZAR$2 billion (A$180 million).

“The board will consider the dividend to Jupiter shareholders along with its full year results, and will make any final dividend declaration for FY2021 in line with the reporting timeframe,” the company said.

On the market today, Jupiter is up 1.45 per cent and is trading at 35 cents per share at 11:33 am AEDT.

JMS by the numbers
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