Alamos Gold Announces Doubling of Annual Dividend
February 19 2019 - 4:30PM
Alamos Gold Inc. (
TSX:AGI;
NYSE:AGI) (“Alamos” or the “Company”) is pleased to
announce that the Company’s Board of Directors has authorized an
increase to its dividend to US$0.01 per common share quarterly,
from US$0.01 semi-annually. This is expected to double the amount
of dividends distributed to shareholders from the $7.8 million paid
in 2018.
This represents the Company’s 10th consecutive year of paying a
dividend during which time the Company has returned $142 million to
shareholders through dividends and share buybacks. The
dividend increase is aligned with the Company’s long-term
commitment to returning capital to shareholders and is supported by
recent higher gold prices and the Company’s expectation for
significant free cash flow growth in 2020 and beyond.
The first quarterly dividend is payable on March 29, 2019 to
shareholders of record as of the close of business on March 15,
2019. This dividend qualifies as an “eligible dividend” for
Canadian income tax purposes.
About Alamos
Alamos is a Canadian-based intermediate gold producer with
diversified production from four operating mines in North America.
This includes the Young-Davidson and Island Gold mines in northern
Ontario, Canada and the Mulatos and El Chanate mines 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 |
|
The TSX and NYSE have not reviewed and do not accept
responsibility for the adequacy or accuracy of this release.
Cautionary Note
This press release contains statements that constitute
forward-looking information as defined under applicable Canadian
and U.S. securities laws. All statements in this press
release, other than statements of historical fact, which address
events, results, outcomes or development that the Company expects
to occur are or may be deemed to be forward-looking statements.
Forward-looking statements are generally, but not always,
identified by the use of forward-looking terminology such as
"expect", “expected”, “intends", "estimates" and similar
expressions or statements that certain actions, events or
results “may", "could", "would", "might" or "will" be taken,
occur or be achieved.
Forward-looking statements include information as to strategy,
plans or future financial or operating performance, including
expectation for free cash flow, the expected timing of the same,
and other statements that express management’s expectations or
estimates of future performance.
Forward-looking statements are necessarily based upon a number
of 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.
Such factors and assumptions underlying the forward-looking
statements in this document include, but are not limited to:
fluctuations in the price of gold; changes to current estimates of
mineral reserves and resources; changes to production estimates
(which assume accuracy of projected ore grade, mining rates,
recovery timing and recovery rate estimates and may be impacted by
unscheduled maintenance, labour and contractor availability and
other operating or technical difficulties); changes in foreign
exchange rates (particularly the Canadian dollar, Mexican peso,
Turkish Lira and U.S. dollar); the impact of inflation; employee
and community relations; litigation; disruptions affecting
operations; availability of and increased costs associated with
mining inputs and labour; development delays at the Young-Davidson
mine; inherent risks associated with mining and mineral processing;
the risk that the Company’s mines may not perform as planned;
uncertainty with the Company’s ability to secure additional capital
to execute its business plans; the speculative nature of mineral
exploration and development, including the risks of obtaining
necessary licenses, permits and authorizations for the
Company’s development and operating assets; contests over
title to properties; changes in national and local government
legislation (including tax legislation) in Canada, Mexico, Turkey,
the United States and other jurisdictions in which the Company does
or may carry on business in the future; risk of loss due to
sabotage and civil disturbances; the impact of global liquidity and
credit availability and the values of assets and liabilities based
on projected future cash flows; risks arising from holding
derivative instruments; and business opportunities that may be
pursued by the Company.
Additional risk factors and details with respect to risk factors
affecting the Company are set out in the Company’s latest Annual
Information Form and MD&A, each under the heading “Risk
Factors”, available on the SEDAR website at www.sedar.com. The
foregoing should be reviewed in conjunction with the information
found in this news release.
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.
Alamos Gold (NYSE:AGI)
Historical Stock Chart
From Aug 2024 to Sep 2024
Alamos Gold (NYSE:AGI)
Historical Stock Chart
From Sep 2023 to Sep 2024