Anglo Asian declares maiden dividend which could “nearly double next year” says broker
Anglo Asian Mining Plc's (LON:AAZ) half-year results saw the declaration of its maiden dividend following a swing to profit, but broker SP Angel thinks it will go further, saying the firm's dividend could "nearly double next year".
Based on previously released commodity price and production assumptions, the broker added that Anglo Asian could be "one of the top-yielding precious metals producers on the London market".
The fact that shares in the AIM-listed group have risen over 85% since January, boosted by a jump following the latest results, suggests investors may share SP Angel's optimism.
If the broker, which has a price target of 84p on the stock, continues to reflect market sentiment there could be much more coming for Anglo's shareholders.
There are several reasons for this price strength, but the central one is that Anglo Asian has been expanding operations and upgrading resources at its three mines in Azerbaijan.
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