African Barrick triples dividend but production slows

African Barrick Gold, the Tanzania focused gold producer, is to triple its dividend for 2011 on the back of a 30% increase in earnings and strong cash generation, although production and sales fell dramatically in the final quarter.

African Barrick Gold, the Tanzania focused gold producer, is to triple its dividend for 2011 on the back of a 30% increase in earnings and strong cash generation, although production and sales fell dramatically in the final quarter.

Total revenues for the year were $1.218bn, a rise of 25% on 2010, with earnings before interest, tax, depreciation and amortisation (EBITDA) rising 30% to $419m.

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