Alamos Gold Declares Quarterly Dividend
November 24 2020 - 6:55AM
Alamos Gold Inc.
(
TSX:AGI; NYSE:AGI) (“Alamos” or
the “Company”) today announced that the Company’s Board of
Directors has declared a quarterly dividend of US$0.02 per common
share.
Quarterly Dividend Increased 33%
As announced in October 2020, the Company has increased its
quarterly dividend by 33% to an annual rate of US$0.08 per common
share. The increase reflects the Company’s strong free cash flow
outlook following the completion of the lower mine expansion at
Young-Davidson in July 2020. The Company has paid dividends for 11
consecutive years during which time $187 million has been returned
to shareholders through dividends and share buybacks.
The dividend is payable on December 21, 2020 to shareholders of
record as of the close of business on December 7, 2020. This
dividend qualifies as an “eligible dividend” for Canadian income
tax purposes.
Dividend Reinvestment Plan
and Suspension of Optional Cash
Purchases
The Company has implemented a dividend reinvestment and share
purchase plan (“DRIP”). This gives shareholders the option of
increasing their investment in Alamos, at a discount to the
prevailing market price and without incurring any transaction
costs, by electing to receive common shares in place of cash
dividends. For shareholders that elect to participate in the DRIP,
common shares will be issued from treasury at a 3% discount to the
prevailing market price.
Enrollment in the DRIP is optional. Further information on the
plan, including the forms needed to enroll, are available on the
Company’s website at
http://www.alamosgold.com/investors/Dividend-Reinvestment-Plan. In
order to be eligible to participate in the December 21, 2020
dividend, enrollment must be completed by 4:00 pm EST on the fifth
business day prior to the December 7, 2020 dividend record
date.
The Company hereby notifies shareholders, in accordance with
Section 9.4 of the DRIP, that Optional Cash Purchases (as defined
in the DRIP) with this, and any future declaration of dividends are
suspended immediately until further notice. Any written requests to
make Optional Cash Purchases will not be processed, and such
requests and any previously received funds will be returned to the
participant by the Plan Agent (as defined in the DRIP).
Accordingly, the Combined Pre-Authorized Debit Agreement/Option
Cash Purchase Voucher sent to participants with their respective
statements will no longer be accepted and enrollment for the
pre-authorized debit service will no longer be available until
further notice.
About Alamos
Alamos is a Canadian-based intermediate gold producer with
diversified production from three operating mines in North America.
This includes the Young-Davidson and Island Gold mines in northern
Ontario, Canada and the Mulatos mine in Sonora State, Mexico.
Additionally, the Company has a significant portfolio of
development stage projects in Canada, Mexico, Turkey, and the
United States. Alamos employs more than 1,700 people and is
committed to the highest standards of sustainable development. The
Company’s shares are traded on the TSX and NYSE under the symbol
“AGI”.
FOR FURTHER INFORMATION, PLEASE CONTACT:
Scott K.
Parsons |
|
Vice President, Investor
Relations |
|
(416) 368-9932 x 5439 |
|
All amounts are in United States dollars, unless otherwise
stated.
The TSX and NYSE have not reviewed and do not accept
responsibility for the adequacy or accuracy of this release.
Cautionary Note Regarding Forward Looking
Statements
Certain of the statements made and information
contained herein, other than statements of historical fact and
historical information, is "forward-looking information" within the
meaning of applicable Canadian and U.S. securities laws.
Forward-looking statements are generally, but not always,
identified by the use of forward-looking terminology such as
"will", "may", “potential” or variations of such words that certain
actions, events or results "could” "might" or "will" occur or be
achieved. Forward-looking statements in this press release include
information regarding planned dividend payments. 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 of Directors. Alamos cautions that forward-looking
statements are necessarily based upon several factors and
assumptions that, while considered reasonable by the Company at the
time of making such statements, are inherently subject to
significant business, economic, legal, political and competitive
uncertainties and contingencies. Known and unknown factors could
cause actual results to differ materially from those projected in
the forward-looking statements. The Company disclaims any intention
or obligation to update or revise any forward-looking statements
whether as a result of new information, future events or otherwise,
except as required by applicable law.
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