This item is part of Stockwatch's value added news feed and is only available to Stockwatch subscribers.Here is a sample of this item:Lihir Gold to begin paying dividends to shareholders 2009-10-29 08:34 ET - News Release Mr. Arthur Hood reports LGL'S (LIHIR GOLD) STRONG PERFORMANCE ENABLES DIVIDEND PAYOUT Lihir Gold Ltd. will commence paying dividends to shareholders, with an interim distribution of 1.5 U.S. cents per share, payable Nov. 30. The dividend has been made possible by increased production, rising cash flows, a healthy balance sheet and a positive outlook for future growth. The strength of LGL's position was evident in its third quarter production report, released today, which showed year-to-date gold output for the group of 845,000 ounces and a significant 36-per-cent upgrade to the reserves at Lihir Island, to 28.8 million ounces. The company remains firmly on track to achieve its full year production target of one million to 1.2 million ounces, which will mark its fourth successive year of record gold production. LGL chief executive officer, Arthur Hood, said the decision to initiate dividend distributions marked a major milestone in the development of the LGL group, reflecting the strong progress achieved in rebuilding and reshaping the company over the past four years. The remainder is available to Stockwatch subscribers.
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