VANCOUVER, Dec. 9, 2016 /CNW/ - Nevsun Resources Ltd.
(TSX:NSU) (NYSE MKT: NSU) (Nevsun or the Company) is pleased to
advise that its Board of Directors has declared a quarterly cash
dividend of US$0.04 per common share
(US$0.16 per common share
annually). The dividend is payable on January 13, 2017, to shareholders of record as of
the close of business on December 30,
2016.
This dividend qualifies as an 'eligible dividend' for Canadian
income tax purposes.
Dividend Reinvestment Program
Nevsun's dividend reinvestment plan ("DRIP") allows shareholders
to reinvest their cash dividends into additional common shares of
Nevsun.
Cliff Davis, Nevsun's CEO,
commented: "Our dividend is core to our capital allocation
philosophy. We encourage investors to sign-up for the
DRIP. Cash not used for dividends will be invested in the
world class Timok development project and to generate additional
organic growth from our extensive asset portfolio."
Benefits of the DRIP for Nevsun shareholders:
- Commission free – Shareholders do not pay any costs or
commissions.
- Discount to market – Common shares issued at a 3%
discount to the market price.
- Full or partial participation – Shareholders can elect
to receive all or part of their dividend in shares.
- Participation rights – Shareholders can change their
DRIP participation level at any time.
Participation in the DRIP is open to all registered and
beneficial shareholders in Canada,
the United States and other
jurisdictions where participation in the DRIP would not be
prohibited or restricted by applicable law. Dividends are paid only
when declared by Nevsun's Board of Directors and the Company may,
in its discretion, change or eliminate the discount applicable to
treasury acquisitions, or any other terms of the DRIP.
This news release is not an offer to sell or a solicitation of
an offer of securities. Nevsun has filed a registration statement
relating to the DRIP with the U.S. Securities and Exchange
Commission that is available electronically under the Company's
profile from EDGAR (www.sec.gov/).
About Nevsun Resources Ltd.
Nevsun Resources Ltd. is the 60% owner of the high grade Bisha
Mine in Eritrea. Bisha has nine years of reserve life,
generating revenue from both copper and zinc concentrates
containing gold and silver by-products. Nevsun has a strong
balance sheet, no debt and pays a peer leading quarterly dividend.
Nevsun is well positioned to grow shareholder value through
exploration at Bisha and the newly acquired Serbian assets that
include the high-grade copper-gold Timok Project.
NEVSUN RESOURCES LTD.
"Cliff T. Davis"
Cliff T. Davis
President & Chief Executive Officer
NSU 16-39.doc|
SOURCE Nevsun Resources Ltd.