Lucara Diamond Corp. announced that its board of directors has approved the return of C$172 million ($131.8 million) to shareholders by way of a special dividend.
The company declared a total dividend payment of C$0.45 per share and will be paid on September 15, to holders of record of its common shares. Lucara said that special dividends are paid from time to time based on revenues generated according to the company’s financial position.
“The Karowe mine is a premier diamond deposit and continues to recover high quality stones, which is resulting in continued growth in the Company's cash balance,” said Lucara president and CEO William Lamb. “Following this dividend payment, we will continue to maintain a strong balance sheet and continue to seek value accretive opportunities, which include advancing our exploration and drilling program to increase the company's resources.”