Hecla Increases Silver-linked Dividend and Lowers Silver Trigger
September 08 2021 - 6:30AM
Business Wire
Silver price threshold lowered to $20 and
silver-linked dividend increased 33% at $25
Hecla Mining Company (“Hecla”)(NYSE:HL) is
pleased to announce that its Board of Directors is adding one cent
for the silver-linked dividend starting at a new, lower quarterly
average realized silver price of $20. The policy increases the
quarterly dividend by 33% at $25 realized silver price
threshold.
“Our further enhanced dividend policy reflects Hecla’s strong
free cash flow generation from the United States’ largest and
lowest cost silver mines that produce more than 40% of all the
silver mined in the United States,” said Hecla’s President and
Chief Executive Officer, Phillips S. Baker, Jr. “Hecla has
consistently paid dividends since 2010 and has enhanced the policy
three times in the last 12 months. Hecla’s dividend policy has the
industry’s only silver-linked dividend providing sustainable
returns to our shareholders and demonstrates our operational and
financial discipline. And with the new policy shareholders receive
a silver-linked dividend at a lower silver price and get a third
more dividends at $25 silver.”
The table below provides an overview of the enhanced
silver-linked dividend with a lower silver-linked price
threshold.
Quarterly Average Realized
Silver Price
Quarterly Silver-Linked
Dividend
Annualized Silver-Linked
Dividend
Annualized Minimum
Dividends
Annualized Dividends:
Silver-Linked & Minimum Dividends
$20
$0.0025
$.01
$.015
$.025
$25
$.01
$.04
$.015
$.055
$30
$.015
$.06
$.015
$.075
$35
$.025
$.10
$.015
$.115
$40
$.035
$.14
$.015
$.155
$45
$.045
$.18
$.015
$.195
$50
$.055
$.22
$.015
$.235
Visit Hecla’s website at www.hecla-mining.com which includes
more in-depth information about the company, our people, our
properties, interesting historical and silver facts, social
responsibility initiatives and accomplishments, and a detailed
investor section.
ABOUT HECLA
Founded in 1891, Hecla Mining Company (NYSE:HL) is the largest
silver producer in the United States. In addition to operating
mines in Alaska, Idaho and Quebec, Canada, the Company owns a
number of exploration properties and pre-development projects in
world-class silver and gold mining districts throughout North
America.
Cautionary Statements
Statements made which are not historical facts, such as
strategies, plans, anticipated payments, litigation outcome
(including settlement negotiations), production, sales of assets,
exploration results and plans, costs, and prices or sales
performance are "forward-looking statements" within the meaning of
the Private Securities Litigation Reform Act of 1995. Words such as
“may”, “will”, “should”, “expects”, “intends”, “projects”,
“believes”, “estimates”, “targets”, “anticipates” and similar
expressions are used to identify these forward-looking statements.
Forward-looking statements involve a number of risks and
uncertainties that could cause actual results to differ materially
from those projected, anticipated, expected, or implied. These
risks and uncertainties include, but are not limited to, metals
price volatility, volatility of metals production and costs,
environmental and litigation risks, operating risks, project
development risks, political risks, labor issues, ability to raise
financing and exploration risks and results. Refer to the company's
Form 10-K and 10-Q reports for a more detailed discussion of
factors that may impact expected future results. The company
undertakes no obligation and has no intention of updating
forward-looking statements other than as may be required by
law.
Category: Press Release
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version on businesswire.com: https://www.businesswire.com/news/home/20210908005409/en/
Jeanne DuPont Senior Communications Coordinator 800-HECLA91
(800-432-5291) Email: hmc-info@hecla-mining.com Website:
www.hecla-mining.com
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