DRDGOLD Limited (NYSE:DRD) Plans $0.31 Dividend

DRDGOLD Limited (NYSE:DRD) declared a dividend on Friday, February 20th. Shareholders of record on Friday, March 13th will be paid a dividend of 0.3122 per share by the basic materials company on Monday, March 23rd. This represents a yield of 174.0%. The ex-dividend date of this dividend is Friday, March 13th.

DRDGOLD has decreased its dividend by an average of 0.1%annually over the last three years. DRDGOLD has a dividend payout ratio of 32.7% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect DRDGOLD to earn $0.90 per share next year, which means the company should continue to be able to cover its $0.50 annual dividend with an expected future payout ratio of 55.6%.

DRDGOLD Stock Down 3.7%

Shares of DRDGOLD stock traded down $1.27 on Wednesday, reaching $32.80. 184,497 shares of the company were exchanged, compared to its average volume of 360,427. DRDGOLD has a 1-year low of $12.75 and a 1-year high of $39.37. The company’s 50-day moving average is $34.62 and its two-hundred day moving average is $29.61.

Hedge Funds Weigh In On DRDGOLD

Several hedge funds have recently modified their holdings of the company. Banque Cantonale Vaudoise acquired a new stake in shares of DRDGOLD in the fourth quarter valued at $42,000. Farther Finance Advisors LLC raised its position in DRDGOLD by 88.2% in the third quarter. Farther Finance Advisors LLC now owns 1,690 shares of the basic materials company’s stock worth $47,000 after acquiring an additional 792 shares in the last quarter. Osaic Holdings Inc. lifted its holdings in DRDGOLD by 11.5% in the 2nd quarter. Osaic Holdings Inc. now owns 6,892 shares of the basic materials company’s stock valued at $92,000 after acquiring an additional 713 shares during the last quarter. BNP Paribas Financial Markets acquired a new stake in DRDGOLD in the 3rd quarter valued at about $102,000. Finally, Blue Trust Inc. boosted its position in shares of DRDGOLD by 21.8% during the 4th quarter. Blue Trust Inc. now owns 4,476 shares of the basic materials company’s stock valued at $139,000 after purchasing an additional 800 shares in the last quarter. 14.70% of the stock is currently owned by institutional investors and hedge funds.

About DRDGOLD

DRDGOLD (NYSE: DRD) is a South African gold producer focused on the retreatment of surface tailings from historic mining operations on the Witwatersrand Basin. The company recovers fine gold particles from low‐grade tailings using an integrated, carbon‐in‐leach (CIL) processing circuit that is designed to maximize yield and minimize environmental impact. DRDGOLD’s operations are centered on sustainable resource utilization, transforming previously discarded material into saleable gold doré bars.

The company operates two primary tailings retreatment facilities on the West Rand and East Rand of Gauteng Province.