Kenmare Resources boosts shareholder dividend on profit surge

Kenmare Resources managing director Michael Carvill: 'We remain confident in the outlook for annual production.' File picture

Shares in Kenmare Resources rose after the Irish mining firm posted record first-half profits and mineral production and a surge in its shareholder dividend.

Kenmare, which owns and operates the Moma mine in Mozambique, has more than trebled its interim dividend to US7.29c a share after seeing a 278% surge in after-tax profit, for the first six months of the year, to $48m (€41m).