Indiana Resources dividend announcement details

Indiana Resources (ASX:IDA) has declared a special dividend of 5.0 cents per share, scheduled for December 2024. This follows a significant settlement with Tanzania, where Indiana received US$60 million of the US$90 million agreement. The company holds A$48 million in cash as of November 15, 2024, and plans to retain A$15.4 million post-dividend for exploration in South Australia.

Key takeaways from Indiana Resources' announcement

Indiana Resources has declared a special dividend of 5.0 cents per share to be paid in December 2024, following a substantial settlement with Tanzania. The company plans to maintain a cash position of A$15.4 million for South Australian exploration, focusing on high-potential gold targets. A subsequent payment to shareholders is anticipated in 2025, contingent on receiving the final US$30 million from Tanzania. Key dividend dates are set, and shareholders are advised to update their banking details. Indiana's strategic financial management post-settlement includes plans for potential capital return and ongoing exploration to expand gold resources.

Executive commentary on dividend and exploration plans

Following the receipt of the settlement from Tanzania, we are pleased to announce a special dividend to our shareholders. This reflects our commitment to delivering value while maintaining a strong cash position to fund exploration activities in South Australia. We look forward to advancing our projects and updating shareholders on our progress.