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Canadian miner Silvercorp raises dividend by 25%

Vancouver-based Silvercorp Metals (SVM.NYSE), China’s largest primary producer of silver, raised its quarterly dividend by 25% to help boost investor interest in its stock, following questions over the company’s accounting practices that have eaten into its valuation in recent months, The Globe and Mail reported. The company reported a 71% increase in second-quarter revenues to US$62.1 million Tuesday, then announced Wednesday it will pay 2.5 cents per share each quarter, up from a previously announced dividend of 2 cents. Silvercorp Corp’s 2010 financial statements were cleared last month by an independent audit from KPMG Forensic, which described the mining company’s 2010 figures as “substantially correct.” Silvercorp operates four silver-led-zinc mines in China, with about 3,000 employees.

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