2233 GMT - Gold Road Resources's decision to pay a dividend below market expectations could signal that M&A is on its radar, suggests Barrenjoey. Gold Road declared a final dividend of 1.5 Australian cents/share for a full year payout of 2 cents/share. Analyst Daniel Morgan says the dividend represented 25% of free cash flow in FY 2024 despite Gold Road having A$166 million cash on hand at the end of December and no debt. "This may indicate a desire to grow through inorganic growth," Barrenjoey says. It retains an underweight call on Gold Road, which has risen more than 70% in value over the past 12 months. (david.winning@wsj.com; @dwinningWSJ)
(END) Dow Jones Newswires
February 23, 2025 17:33 ET (22:33 GMT)
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