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Randgold flags dividend increase as Q3 output rises

Reuters - UK Focus

LONDON, Nov 3 (Reuters) - Randgold Resources Ltd said on Thursday it was on track to raise dividends and to support three new projects should gold prices stay near current levels.

The bullion producer said third-quarter gold production rose 7 percent to 301,163 ounces while total cash costs fell 9 percent to $663 per ounce compared with the previous quarter.

"Forecast cash flows generated from operations are expected to support funding for the three new projects the company has set as a goal to establish over the next five years as well as increasing dividends," Randgold said in a statement. (Reporting by Zandi Shabalala; editing by David Clarke)