Alamos Gold Declares Quarterly Dividend and Announces Share Repurchases Under Normal Course Issuer Bid
November 23 2021 - 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$0.025 per common share. Additionally, the Company repurchased
383,000 shares at a cost of $2.9 million, or $7.55 per share, under
its Normal Course Issuer Bid (“NCIB”) thus far in November.
Year-to-date the Company has repurchased 1,183,262 shares for
$8.9 million. Including the upcoming dividend, the Company has
returned $48 million to shareholders thus far in 2021 through
dividends and share buybacks. The Company has paid dividends for 12
consecutive years during which time $235 million has been returned
to shareholders through dividends and share buybacks.
The dividend is payable on December 21, 2021 to shareholders of
record as of the close of business on December 7, 2021. This
dividend qualifies as an “eligible dividend” for Canadian income
tax purposes.
Dividend Reinvestment Plan
The Company has implemented a dividend reinvestment 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 2% 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, 2021
dividend, enrollment must be completed by 4:00 pm EST on the fifth
business day prior to the December 7, 2021 dividend record
date.
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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