Kirkland Lake Gold Declares Quarterly Dividend Payment
September 11 2019 - 6:00AM
Kirkland Lake Gold Ltd. (“Kirkland Lake Gold” or
the “
Company”) (TSX:KL) (NYSE:KL) (ASX:KLA) today
announced that a quarterly dividend payment of US$0.04 per common
share will be paid on October 11, 2019 to shareholders of record as
of the close of business on September 30, 2019. The payment
represents the 10th quarterly dividend payment made to shareholders
following the Company’s adoption of a dividend policy in March
2017. The Company’s quarterly dividend qualifies as an “eligible
dividend” for Canadian income tax purposes. For Canadian
shareholders the US dollar dividend payment will be converted to
Canadian dollars using the spot price exchange rate on September
27, 2019, the date prior to the payment date.
In addition, Kirkland Lake Gold today confirmed
that the Company is being added to the S&P/TSX 60 Index
effective prior to the open of trading on Monday, September 23,
2019. The addition to the S&P/TSX 60, which was announced by
S&P Dow Jones Indices on September 6, 2019, is an important
milestone for the Company, one that reflects its continued progress
in building shareholder value through strong operating and
financial performance.
About Kirkland Lake Gold
Ltd.
Kirkland Lake Gold Ltd. is a growing gold
producer operating in Canada and Australia that produced 723,701
ounces in 2018 and is on track to achieve significant production
growth over the next three years, including target production of
950,000 – 1,000,000 ounces in 2019, 930,000 – 1,010,000 ounces in
2020 and 995,000 – 1,055,000 ounces in 2021. The production profile
of the Company is anchored by two high-grade, low-cost operations,
including the Macassa Mine located in Northern Ontario and the
Fosterville Mine located in the state of Victoria, Australia.
Kirkland Lake Gold's solid base of quality assets is complemented
by district scale exploration potential, supported by a strong
financial position with extensive management and operational
expertise.
Cautionary Note Regarding
Forward-Looking Information
This press release contains statements which
constitute “forward-looking information” within the meaning of
applicable securities laws, including statements regarding the
plans, intentions, beliefs and current expectations of Kirkland
Lake Gold with respect to future business activities and operating
performance. Forward-looking information is often identified by the
words “may”, “would”, “could”, “should”, “will”, “intend”, “plan”,
“anticipate”, “believe”, “estimate”, “expect” or similar
expressions and, in this press release, include information
regarding planned dividend payments and the management of the
Company’s dividend policy. The declaration and payment of dividends
remains at the discretion of the Board of Directors and will depend
on the Company's financial results, cash requirements, future
prospects and other factors deemed relevant by the Board.
Investors are cautioned that forward-looking
information is not based on historical facts but instead reflect
the Company's management's expectations, estimates or projections
concerning future results or events based on the opinions,
assumptions and estimates of management considered reasonable at
the date the statements are made. Although Kirkland Lake Gold
believes that the expectations reflected in such forward-looking
information are reasonable, such information involves risks and
uncertainties, and undue reliance should not be placed on such
information, as unknown or unpredictable factors could have
material adverse effects on future results, performance or
achievements of the Company. Among the key factors that could cause
actual results to differ materially from those projected in the
forward-looking information are the following: the future
development of the Canadian and Australian operations; the
potential anticipated annual increase in production; future
exploration activities; changes in general economic, business and
political conditions, including changes in the financial markets;
changes in applicable laws; and compliance with extensive
government regulation. This forward-looking information may be
affected by risks and uncertainties in the business of Kirkland
Lake Gold and market conditions. This information is qualified in
its entirety by cautionary statements and risk factor disclosure
contained in filings made by Kirkland Lake Gold, including Kirkland
Lake Gold's annual information form dated December 31, 2017 and the
annual consolidated financial statements and related MD&A for
the period ended December 31, 2018, which are filed with the
securities regulatory authorities in certain provinces of Canada
and available at www.sedar.com.
Should one or more of these risks or
uncertainties materialize, or should assumptions underlying the
forward-looking information prove incorrect, actual results may
vary materially from those described herein as intended, planned,
anticipated, believed, estimated or expected. Although Kirkland
Lake Gold has attempted to identify important risks, uncertainties
and factors which could cause actual results to differ materially,
there may be others that cause results not to be as anticipated,
estimated or intended. Kirkland Lake Gold does not intend, and do
not assume any obligation, to update this forward-looking
information except as otherwise required by applicable law.
For more information, please
contact:
Anthony Makuch, President, Chief Executive
Officer & DirectorPhone: +1 416-840-7884E-mail:
tmakuch@klgold.com
Mark Utting, Vice President, Investor
RelationsPhone: +1 416-840-7884E-mail: mutting@klgold.com Website:
www.klgold.com
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