Eldorado profit falls, plans less generous dividends

Fri Aug 2, 2013 8:28am EDT

Aug 2 (Reuters) - Eldorado Gold Corp reported a small decline in second quarter profit on Friday despite a big increase in production, as the price of gold dropped, and the company revised its dividend policy.

Eldorado, which links its dividend payments to the price of gold, cut its targeted payout per ounce sold for some gold prices.

Earnings attributable to shareholders fell to $43.3 million, or 6 cents a share, from $46.6 million, or 7 cents a share, a year earlier. Revenue rose to $266.9 million, from $244.2 million.