Yamana Gold Increases Annual Dividend by 25% to $0.0625 Per Share; Third Dividend Increase in Past Year for Cumulative Total ...
April 29 2020 - 6:31PM
YAMANA GOLD INC. (TSX:YRI; NYSE:AUY) (“Yamana” or the “Company”) is
pleased to announce that it has increased its annual dividend by a
further 25% to $0.0625 per share, effective for the second quarter
of 2020. Shareholders of record at the close of business on June
30, 2020, will be entitled to receive payment of this dividend on
July 14, 2020. The dividend is an “eligible dividend” for Canadian
tax purposes.
This is the third dividend increase announced by
Yamana in the past year, for a cumulative total increase of 213%.
These increases are part of a gradual and progressive approach to
dividend increases, as the Company’s cash balances continue to grow
from increasing free cash flow1 and successful and continuing
initiatives to monetize its portfolio of non-producing assets and
financial instruments.
About YamanaYamana Gold Inc. is
a Canadian-based precious metals producer with significant gold and
silver production, development stage properties, exploration
properties, and land positions throughout the Americas, including
Canada, Brazil, Chile and Argentina. Yamana plans to continue to
build on this base through expansion and optimization initiatives
at existing operating mines, development of new mines, the
advancement of its exploration properties and, at times, by
targeting other consolidation opportunities with a primary focus in
the Americas.
FOR FURTHER INFORMATION PLEASE
CONTACT:Investor Relations and Corporate
Communications416-815-02201-888-809-0925Email:
investor@yamana.com
CAUTIONARY NOTE REGARDING FORWARD-LOOKING
STATEMENTS: This news release contains or incorporates by reference
“forward-looking statements” and “forward-looking information”
under applicable Canadian securities legislation and within the
meaning of the United States Private Securities Litigation Reform
Act of 1995. Forward-looking information includes, but is not
limited to information with respect to the Company’s dividend
policy, strategy, plans or future financial or operating
performance. Forward-looking statements are characterized by words
such as “plan", “expect”, “budget”, “target”, “project”, “intend”,
“believe”, “anticipate”, “estimate” and other similar words, or
statements that certain events or conditions “may” or “will” occur.
Forward-looking statements are based on the opinions, assumptions
and estimates of management considered reasonable at the date the
statements are made, and are inherently subject to a variety of
risks and uncertainties and other known and unknown factors that
could cause actual events or results to differ materially from
those projected in the forward-looking statements. These factors
include all those risk factors discussed or referred to herein and
in the Company's Annual Information Form filed with the securities
regulatory authorities in all provinces of Canada and available at
www.sedar.com, and the Company’s Annual Report on Form 40-F filed
with the United States Securities and Exchange Commission.
Although the Company has attempted to identify important factors
that could cause actual actions, events or results to differ
materially from those described in forward-looking statements,
there may be other factors that cause actions, events or results
not to be anticipated, estimated or intended. There can be no
assurance that forward-looking statements will prove to be
accurate, as actual results and future events could differ
materially from those anticipated in such statements. The Company
undertakes no obligation to update forward-looking statements if
circumstances or management’s estimates, assumptions or opinions
should change, except as required by applicable law. The reader is
cautioned not to place undue reliance on forward-looking
statements. The forward-looking information contained herein is
presented for the purpose of assisting investors in understanding
the Company’s expected financial and operational performance and
results as at and for the periods ended on the dates presented in
the Company’s plans and objectives and may not be appropriate for
other purposes.
(All amounts are expressed in United States
dollars unless otherwisde indicated)
End Notes
1. The Company uses the financial measure "Net
Free Cash Flow" and "Free Cash Flow", which are non-GAAP financial
measures, to supplement information in its Consolidated Financial
Statements. Net Free Cash Flow and Free Cash Flow do not have any
standardized meaning prescribed under IFRS, and therefore may not
be comparable to similar measures employed by other companies. The
Company believes that in addition to conventional measures prepared
in accordance with IFRS, the Company and certain investors and
analysts use this information to evaluate the Company’s performance
with respect to its operating cash flow capacity to meet
non-discretionary outflows of cash or to meet dividends and debt
repayments. The presentation of Net Free Cash Flow and Free Cash
Flow are not meant to be a substitute for the cash flow information
presented in accordance with IFRS, but rather should be evaluated
in conjunction with such IFRS measures. Net Free Cash Flow is
calculated as cash flows from operating activities of continuing
operations adjusted for advance payments received pursuant to metal
purchase agreements, non-discretionary expenditures from sustaining
capital expenditures and interest and financing expenses paid
related to the current period. Free Cash Flow further deducts
remaining capital expenditures and payments for lease
obligations.
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