Lynas Rare Earths (ASX:LYC) floated the possibility of paying dividends as part of its capital management plans under consideration, Chair John Humphrey said in his address at the company's annual general meeting.

"The board is working to develop a dividend policy appropriate for a growth company like Lynas," Humphrey said as quoted in a Wednesday Australian bourse filing.

The mining company's shares were up 1% in recent Wednesday trade.

Price (AUD): $6.89, Change: $+0.07, Percent Change: +0.95%