The global mining sector has come under significant pressure as commodity prices have tumbled in the wake of a slowdown in China. It was China’s appetite for raw materials that had led to a multi-year rally in commodities.
Canadian mining companies benefited immensely from this trend. However, the sharp drop in prices has hurt the operating cash flows of Canadian miners. Several companies have already announced capital spending cuts. The drop in operating cash flows also puts pressure on shareholder distribution.
However, several mining companies continue to issue dividend payments. Here are two companies that announced dividend payments today.
Nevsun Resources (TSX: NSU)
Based in Vancouver, Canada, Nevsun Resources is engaged in the acquisition, exploration, development and operation of mineral property interests.
Nevsun, today, announced that its Board of Directors declared a regular quarterly cash dividend of US$0.04 per common share. The dividend will be payable on April 15th. NSU currently offers a dividend yield of 4.86%.
Tahoe Resources Inc. (TSX: THO)
Tahoe Resources is focused on mineral exploration and mine development. The company operates precious metals mines.
THO has declared its third monthly dividend for 2016 of US$0.02 per common share. THO currently offers a dividend yield of 2.44%.
