Copper Strike (ASX: $CSE) dividend and capital return announcement

Copper Strike Limited (ASX: $CSE) has announced a fully franked dividend of $0.006 per share and a capital return of $0.0685 per share, totaling a $10m cash return to shareholders. As of 31 December 2023, the company held $16.4m in cash. Shareholders participating in the Capital Return will incur no transaction costs, and the company will seek shareholder approval for the Capital Return at a meeting on 5 April 2024.

Executive commentary on dividend and capital return

The Directors believe that the current cash balance is more than sufficient for the company's foreseeable needs, leading to the decision to pay a dividend to utilize existing franking credits and to make a Capital Return. The Capital Return will enable shareholders to maintain the same percentage of ownership in the company, and the company will continue to explore opportunities across the mining, energy, and technology sectors.

Summary of Copper Strike's dividend and capital return announcement

Copper Strike Limited (ASX: $CSE) has declared a fully franked dividend of $0.006 per share and a capital return of $0.0685 per share, resulting in a total cash return of $10m to shareholders. The company's cash balance as of 31 December 2023 was $16.4m, leading the Directors to believe it exceeds the current and anticipated medium-term requirements. Shareholders participating in the Capital Return will not incur transaction costs, and shareholder approval for the Capital Return will be sought at a meeting on 5 April 2024. The company will also continue to explore opportunities in the mining, energy, and technology industries and will inform the market of any significant developments.