Industrea Limited (IDL) will go ex dividend on 8/10/2010. The current dividend payment is 1 cents and it is 100% franked. The record date is 14/10/2010 and the dividend will be paid on 5/11/2010. Based on the full year payment the dividend yield is 3.0%.
*Current Yield: 2.3% Franking: 100% DRP Discount: Not Available
*Yield has been calculated on the closing price on the 23/9/2010. Current yield is based on the current dividend payment only.
Global mining products and services provider Industrea Limited (IDL) today announced a $2 million contract to supply underground directional drilling and gas drainage equipment to Shanxi Asian American Daning Energy Co. demonstrating Industrea’s market leadership in China and its continuing strong deal flow. The Australian-built equipment will be supplied by Beijing based Industrea subsidiary Wadam Industries to SAADEC’s Daning Coal Mine in Jincheng, located in north China’s Shanxi Province. The Daning mine is unique as the first foreign-invested coal mining joint venture in the
history of the People’s Republic of China. Asian American Coal (AACI) holds a 56% equity stake in the joint venture and operates the mine using the latest in international equipment and technology to maximize safety, production and efficiency.
Industrea Managing Director and CEO, Robin Levison, said the contract win was the fourth sale over the past six years to SAADEC demonstrating the company’s strong reputation and market leadership in the expanding Chinese underground coal industry.
Mr. Levison said the mine had also demonstrated the effectiveness of Industrea’s methane gas drainage equipment, with the AMT DGS system now having become the industry standard in China. “The Chinese Government’s new tax on coal to fund the purchase of safety equipment shows their determination to improve standards. Industrea is very proud to be able to make a key contribution, given the rapid growth of the Chinese underground coal industry and the safety threat posed by methane gas.”
