Kinross reports loss on charge; suspends dividend

Wed Jul 31, 2013 5:17pm EDT
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TORONTO, July 31 (Reuters) - Kinross Gold Corp reported a quarterly loss on Wednesday as it took a big non-cash charge and suspended its semi-annual dividend.

Kinross' net loss for the second quarter was $2.48 billion, or $2.17 a share, compared with earnings of $113.9 million, or 10 cents a share, a year earlier.

Excluding an after-tax non-cash impairment charge of $2.29 billion linked to the lower gold price and other items, adjusted earnings fell to $119.5 million, or 10 cents a share, from $156.8 million, or 14 cents.

Revenue fell to $968.0 million from $1.01 billion.