Power Fully Restored at Bisha Mine; Nevsun Increases Quarterly Dividend by 14%

Power Fully Restored at Bisha Mine
Power Fully Restored at Bisha Mine

By TesfaNews,

NEVSUN Resources today reports that power supply has been reliably restored to the process plant at the Bisha mine.

As noted in our December 8th news release, financial results have not been negatively impacted as the mine was able to draw down and sell from concentrate stock-piles.

The company is also pleased to advise that its Board of Directors has declared a quarterly cash dividend of US$0.04 per common share (US$0.16 per common share annually), an increase of 14% from prior quarters.

The dividend is payable on January 15, 2015, to shareholders of record as of the close of business on December 31, 2014.

This dividend qualifies as an ‘eligible dividend’ for Canadian income tax purposes.

CEO Cliff Davis stated

This is the fourth time we have increased the dividend rate since commercial production in 2011.  Our willingness to increase our dividend even in the current metals’ price environment is based on our confidence in the long term profitability of the Bisha Mine.

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