Lucara Diamond Corp announced a special dividend approved by its Board of Directors. The dividend is of $0.45 per share meant to be paid to all shareholders, in addition to the company's existing progressive 2016 quarterly dividend of $0.015 per share, reports say.

The company will pay a total of $172 million in its special dividend.

The company plans to pay a total dividend of $0.465 per share by September to those who hold record of the company's common shares at the close of business on September 2, 2016.

The company notes this special dividend is unlike any other in the industry speaks of the company’s commitment towards its shareholders, reports add.