Aber Diamond Corp approves dividend of US $1 per share

10 Jun '05
2 min read

Canadian diamonds mining & marketing company ABER DIAMOND CORPORATION announced the first quarter results for the period ended April 30, 2005. The Board of Director's has approved an increase in the common share dividend to US $1.00 per share per annum.

Commenting on Aber's results, Chairman and Chief Executive Officer Robert Gannicott stated, "Operational efficiencies at Diavik have continued to deliver increases in diamond production. Work has also started on the development of both the A-418 open pit and an underground mine to access all three of the existing orebodies. Both our mining and retail segments have performed well over the quarter in a diamond market that continues to strengthen for our core products. The dividend increase reflects the confidence of both management and the Board in Aber's strong financial position, prospects for the future and our strategy of returning surplus cash to shareholders."

Thomas O'Neill, Aber's President and Chief Executive Officer of Harry Winston added, "Harry Winston has performed well in a seasonally slow period. The results were driven by sales of high-end price points and unique one-of-a-kind jewelry on a growing base of more modestly priced jewelry. Worldwide watch sales and jewelry sales growth in Japan have also contributed to our strong operating results".

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