Own Evolution Mining shares? Get ready to dig into your dividends

Here's the details regarding Evolution's latest dividend.

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Key points

  • Evolution shares edge more than 1% following an uptick in gold prices overnight 
  • However, its shares are down more than 50% this year as the yellow metal is fetching at US$1,660 compared to US$2,000 earlier in the year 
  • Evolution is paying a fully franked final dividend of 3 cents to eligible shareholders today 

The Evolution Mining Ltd (ASX: EVNdividend will be landing into shareholder accounts today.

This comes at an opportune time as investors would have seen their wealth fall significantly in the past couple of months.

At the time of writing, Evolution shares are fetching for $2.01 per share, up 1.26%.

When factoring the last 2 months, the gold miner's shares are down almost 25%.

What's happened to Evolution shares?

With gold prices falling to multi-year lows, this has caused a negative sentiment on the Evolution share price.

Just last week, the yellow metal reached a low of around US$1,630 before climbing back to US$1,663 at the time of writing.

Evidently, selling gold at a lower price puts a squeeze on the company's revenue margins.

This is being driven by the global economic slowdown as well as the US Federal Reserve aggressively ramping up interest rates to combat inflation.

What about the Evolution dividend?

After the company reported its full-year result, the board declared a fully-franked final dividend of 3 cents apiece.

This brings the full-year dividend to 6 cents per share, down 50% year on year.

And is the 19th consecutive dividend paid to shareholders for a total of $1,053 million since 2013.

Evolution has a current dividend yield of 2.98%.

Evolution share price snapshot

It has been a rollercoaster ride for Evolution investors, with its shares reaching a multi-year low of $1.805 on Tuesday.

The company's share price is down more than 50% in 2022.

Evolution commands a market capitalisation of approximately $3.64 billion and has over 1.83 billion shares on its registry.

Motley Fool contributor Aaron Teboneras has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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