Centamin PLC Announces Dividend Declaration

PERTH, AUSTRALIA / ACCESSWIRE / August 4, 2020 /

DIVIDEND DECLARATION

Centamin (LSE:CEY)(TSX:CEE) is pleased to announce a second interim dividend of 6 US cents per share, for the six months ended 30 June 2020 ("H1"), will be paid on 11 September 2020.

SECOND INTERIM DIVIDEND

Consistent with the Company's commitment to returning surplus cash to shareholders, and in line with the Company's dividend policy, the Board declares to pay an interim dividend of 6 US cents per ordinary share (H1 2019: 4 US cents) equating to approximately US$69.4 million.

The 2020 second interim dividend corresponds to the financial performance of the Company in H1 and represents a distribution equivalent to approximately 68% of free cash flow generated. On payment, the implied dividend yield^[1] would be approximately 6.25% and equivalent to distributing to shareholders US$368 per ounce produced^[2].

DIVIDEND TIMETABLE^[3]

Below is the second interim dividend timetable for the London Stock Exchange and Toronto Stock Exchange

Ex-Dividend Date: 13 August 2020

Record Date: 14 August 2020

Last Date for Currency Elections: 19 August 2020

Payment Date: 11 September 2020

DIVIDEND CURRENCY ELECTIONS

The dividend will be paid on 11 September 2020, in US Dollars ("USD") with an option for shareholders to elect to receive the dividend in Pounds Sterling ("GBP"). Currency elections should be made no later than 19 August 2020 as per the instructions detailed on the Company website (www.centamin.com). Payments in GBP will be based on the USD/GBP exchange rate on 20 August 2020 and the rate applied will be published on the website thereafter.

As a Jersey incorporated company, there is no requirement for Centamin plc to make any withholding or deduction on account of Jersey tax in respect of the dividend.

FOR MORE INFORMATION please visit the website www.centamin.com or contact:

FORWARD-LOOKING STATEMENTS

This announcement (including information incorporated by reference) contains "forward-looking statements" and "forward-looking information" under applicable securities laws (collectively, "forward-looking statements"), including statements with respect to future financial or operating performance. Generally, these forward-looking statements can be identified by the use of forward-looking terminology such as "believes", "expects", "expected", "budgeted", "forecasts" and "anticipates". Although Centamin believes that the expectations reflected in such forward-looking statements are reasonable, Centamin can give no assurance that such expectations will prove to be correct. Forward-looking statements are prospective in nature and are not based on historical facts, but rather on current expectations and projections of the management of Centamin about future events and are therefore subject to known and unknown risks and uncertainties which could cause actual results to differ materially from the future results expressed or implied by the forward-looking statements. In addition, there are a number of factors that could cause actual results, performance, achievements or developments to differ materially from those expressed or implied by such forward-looking statements; general business, economic, competitive, political and social uncertainties; the results of exploration activities and feasibility studies; assumptions in economic evaluations which prove to be inaccurate; currency fluctuations; changes in project parameters; future prices of gold and other metals; possible variations of ore grade or recovery rates; accidents, labour disputes and other risks of the mining industry; climatic conditions; political instability; decisions and regulatory changes enacted by governmental authorities; delays in obtaining approvals or financing or completing development or construction activities; and discovery of archaeological ruins. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information or statements. Forward-looking statements contained herein are made as of the date of this announcement and the Company disclaims any obligation to update any forward-looking statement, whether as a result of new information, future events or results or otherwise. Accordingly, readers should not place undue reliance on forward-looking statements.

LEI: 213800PDI9G7OUKLPV84

Company No: 109180

^[1] Calculated over the last twelve months, inclusive of the 2019 interim dividend, 2020 first interim dividend (a direct replace of the 2019 final dividend due to COVID-19) and the current declared 2020 second interim dividend, using share price as at 3 August 2020.

^[2] Calculated over the last twelve months of production, as at 30 June 2020.

^[3] The dates set out above are based on the Directors' current expectations and may be subject to change. If any of the dates should change, the revised dates will be announced by press release and will be available at www.centamin.com.

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SOURCE: Centamin PLC