Alamos Gold Declares Quarterly Dividend

Rhea-AI Summary

Alamos Gold Inc. (TSX:AGI; NYSE:AGI) has declared a quarterly dividend of US$0.025 per common share, payable on September 29, 2022, to shareholders recorded by September 15, 2022. The company has consistently paid dividends for 13 years, returning $275 million to shareholders, including $38 million in 2022. A dividend reinvestment plan (DRIP) will allow shareholders to receive shares at a 2% discount instead of cash. Alamos operates three mines in North America and maintains a commitment to sustainable development.

Positive

• Declared quarterly dividend of US$0.025 per share, enhancing shareholder income.
• Returned $275 million to shareholders over 13 years through dividends and buybacks.

Negative

• The discretion of the Board of Directors in declaring future dividends raises uncertainty.

TORONTO, Aug. 30, 2022 (GLOBE NEWSWIRE) -- 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$0.025 per common share. The Company has paid dividends for 13 consecutive years during which time $275 million has been returned to shareholders through dividends and share buybacks, including $38 million thus far in 2022.

The dividend is payable on September 29, 2022 to shareholders of record as of the close of business on September 15, 2022. This dividend qualifies as an “eligible dividend” for Canadian income tax purposes.

Dividend Reinvestment Plan

The Company has implemented a dividend reinvestment plan (“DRIP”). This gives 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. For shareholders that elect to participate in the DRIP, common shares will be issued from treasury at a 2% discount to the prevailing market price.

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 September 29, 2022 dividend, enrollment must be completed by 4:00 pm EST on the fifth business day prior to the September 15, 2022 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 1,900 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.

Cautionary Note Regarding Forward Looking Statements

Certain of the statements made and information contained herein, other than statements of historical fact and historical information, is "forward-looking information" within the meaning of applicable Canadian and U.S. securities laws. Forward-looking statements are generally, but not always, identified by the use of forward-looking terminology such as "will", "may", “potential” or variations of such words that certain actions, events or results "could” "might" or "will" occur or be achieved. Forward-looking statements in this press release include information regarding planned dividend payments. The declaration and payment of dividends remains at the discretion of the Board of Directors and will depend on the Company's financial results, cash requirements, future prospects and other factors deemed relevant by the Board of Directors. Alamos cautions that forward-looking statements are necessarily based upon several 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. 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.

FAQ

What is the dividend amount announced by Alamos Gold on August 30, 2022?

Alamos Gold announced a quarterly dividend of US$0.025 per common share.

When is the dividend payable for Alamos Gold?

The dividend is payable on September 29, 2022.

What is the record date for the Alamos Gold dividend?

The record date for the dividend is September 15, 2022.

What does the dividend reinvestment plan (DRIP) offer Alamos Gold shareholders?

The DRIP allows shareholders to receive common shares at a 2% discount instead of cash dividends.

How long has Alamos Gold been paying dividends?

Alamos Gold has paid dividends for 13 consecutive years.

How much has Alamos Gold returned to shareholders through dividends and buybacks?

Alamos Gold has returned $275 million to shareholders through dividends and buybacks.