Alamos Gold Declares Quarterly Dividend and Adopts Dividend Reinvestment and Share Purchase Plan
03 March 2020 - 11:00PM
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$0.015 per common share and introduced a Dividend
Reinvestment and Share Purchase Plan (“DRIP”).
Quarterly Dividend Increased 50%
As announced in December 2019, the Company has increased its
quarterly dividend by 50% to an annual rate of US$0.06 per common
share. The increase is a reflection of the Company’s strong free
cash flow outlook with the lower mine expansion at Young-Davidson
on track to be completed in June 2020. This represents the
Company’s 11th consecutive year of paying a dividend during which
time the Company has returned $161 million to shareholders through
dividends and share buybacks.
The dividend is payable on March 31, 2020 to shareholders of
record as of the close of business on March 17, 2020. This dividend
qualifies as an “eligible dividend” for Canadian income tax
purposes. For shareholders that elect to participate in the DRIP as
outlined below, common shares granted as part of the March 31, 2020
dividend will be issued from treasury at a 2% discount to the
prevailing market price.
Dividend Reinvestment and Share Purchase
Plan
The Company has implemented a dividend reinvestment and share
purchase plan. This will give 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.
Shareholders who elect to participate in the DRIP will also have
the option of acquiring additional common shares in the Company
(subject to limitations) at a discount to the prevailing market
price, and without incurring additional transaction
costs.
The Company has the discretion to elect to issue such common
shares at up to a 5% discount to the prevailing market price from
treasury, or purchase the common shares on the open market
including the facilities of the New York Stock Exchange, and will
advise as such with each dividend declaration.
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 March 31, 2020 dividend,
enrollment must be completed by 4:00 pm EST on the fifth business
day prior to the March 17, 2020 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.
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