West African gold miner Endeavour Mining expects to reach a net cash position in the coming quarters, at which point it will start rewarding shareholders with dividend payments.
With the current gold price outlook, dividend initiation could come quickly, CEO Sebastien de Montessus said on a conference call on Wednesday, a day after the precious metal broke through $2 000/oz for the first time.
In question-and-answer time, he said that Endeavour would consider the overall market and peers as a benchmark for its dividend, not only Toronto-listed peers.