Red Hill Minerals declares special dividend

Red Hill Minerals (ASX:RHI) has announced a special dividend of $0.30 per ordinary share, fully franked at 25%. The dividend will be paid on December 13, 2024. This decision is supported by the company's robust cash position of $84.6 million as of September 2024.

Red Hill Minerals financial strategy and outlook

Red Hill Minerals (ASX:RHI) has declared a special dividend of $0.30 per share, fully franked at 25%, to be distributed on December 13, 2024. The company holds a solid cash reserve of $84.6 million as of the end of September 2024, enabling the dividend payout. In addition, Red Hill Minerals has started to receive regular quarterly royalty payments from the Onslow Project. These payments are expected to rise as production scales up to a target of 35 Mtpa. The executive commentary from Chairman Joshua Pitt highlights the company's strategic commitment to rewarding shareholders while maintaining a strong financial footing.

Executive insights on dividend announcement

Executive Chairman Joshua Pitt emphasizes the company's strong financial standing and the strategic decision to distribute dividends to shareholders.