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Be the first with the news that moves the market- Yamana Gold (YRI) is continuing to build on its investor dividend, ahead of another round of strong quarterly results
- The company has increased its dividend by 50 per cent to C$0.105, based on standout production at its Jacobina, El Peñón, Minera Florida, and Canadian Malartic operations
- This is the latest in a series of recent dividend hikes, pushing the company’s investor renumeration up by around 425 per cent over the last 18 months
- Meanwhile, the company has also been approved to list London Stock Exchange by October 13
- Yamana Gold (YRI) is up 3.94 per cent and is trading at $7.65 per share
Yamana Gold (YRI) is continuing to build on its investor dividend, ahead of another round of strong quarterly results.
Quarterly gold production from Yamana’s five operating mines reached 201,772 ounces of gold and 3.04 million ounces of silver, with the Jacobina, El Peñón, Minera Florida, and Canadian Malartic sites all reaching standout quarterly figures.
Consequently, the company has increased its quarterly dividend by 50 per cent to C$0.105. This is the latest in a long line of recent dividend hikes, pushing the company’s investor renumeration up by around 425 per cent over the last 18 months.
The strong annual production to-date has also encouraged the company to bump its previous full year guidance of between 890,000 and 915,000 gold equivalent ounces by a further thee per cent.
Alongside the strong quarterly production and dividend bump, the company has also been approved to list on the London Stock Exchange. The company intends to issue shares for its new listing by October 13.
Founder and Executive Chairman of Yamana Gold Peter Marrone said the company is coming to London at an auspicious time.
“We have always had a strong commitment to creating a culture that promotes worker and community health and safety, effective environmental management and community engagement.
“We are at a stage in our development as a company at which we are focused on internally funded organic growth, and our capital allocation strategy supports robust and increasing cash returns to shareholders,” he said.
Despite releasing the good news to investors early, Yamana Gold’s full quarterly figures are still being finalised and will be released by October 29.
Yamana Gold (YRI) is up 3.94 per cent and is trading at $7.65 per share at 10:22am EDT.
