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AngloGold Ashanti Tumbles After Dividend Reinstatement Announcement, Insider Trade

- By Alberto Abaterusso

Despite announcing it was reinstating its dividend after a little over three-year suspension, AngloGold Ashanti Ltd.'s (AU) stock tumbled over the past week.

After the dividend reinstatement announcement, which was supported by strong growth in 2016 earnings and free cash flow, AngloGold Ashanti fell 12.56% on the New York Stock Exchange. In contrast, gold is up $18.175 per troy ounce or 1.47% on the London Bullion Market, from an average price of $1,236.325 per troy ounce on Feb. 20 to an average of $1,254.50 on Feb. 24.