Evolution Mining Spurns War Chest in Favor of Record Dividend

Evolution Mining has opted to reward its shareholders with a record dividend instead of building up a war chest for potential deals. The move comes after the second-biggest listed gold miner reaped the benefits from soaring bullion and copper prices.

The company's decision follows a record profit, which it attributes to the rising prices of gold and copper. According to the source, Evolution Mining has shunned the opportunity to accumulate a war chest despite its strong financial position.

Marcus Ashworth, a representative of Evolution Mining, is quoted as saying 'we are focusing on returning value to shareholders'. The company's decision may come as a surprise to some, given the prevailing trend among companies to build up reserves for future deals.