Polymetal Increases Output Target and Dividend Payout

Bloomberg reported that Polymetal International PLC (LON:POLY) expects to exceed their production forecast for this year for by 5 percent. They have also modified the payout policy to increase shareholder dividends.

As quoted in the market report:

Polymetal expects to produce 1.05 million ounces of gold equivalent this year, 5 percent more than previously forecast, the St. Petersburg-based company said today in a statement, citing a “strong performance.” Third-quarter output jumped 48 percent from a year earlier to 317,000 ounces, while sales probably rose 42 percent to $530 million, Polymetal said.

To view the whole Bloomberg report, click here.