BlackRock's Hambro: Look to gold miners for dividend growth

BlackRock's Evy Hambro has backed the recent trend of strong dividend growth among gold miners to continue off the back of soaring gold prices.

Hambro, running the £2.9bn BlackRock Gold and General fund, said miners should be able to continue to increase dividends thanks to soaring profits. "We expect to see an ongoing trend of dividend growth in the gold industry, reflecting the strength of their earnings and balance sheets," he said. Hambro has delivered 117.1% to investors over the last five years amid a raging bull market in gold. The price of the precious metal has soared by more than 100% from $600 per troy ounce to a high of $1,563 in May, amid the economic downturn which forced investors to flee to safe havens. The...