Alamos Gold Declares Quarterly Dividend

Rhea-AI Summary

Alamos Gold has declared a quarterly dividend of US$0.025 per common share, payable on December 20, 2022, to shareholders of record as of December 6, 2022. The company has consistently paid dividends for 13 years, returning $285 million to shareholders, including $48 million in 2022 alone. Additionally, Alamos has introduced a dividend reinvestment plan, allowing shareholders to reinvest their dividends at a 3% discount to the market price.

Positive

• Quarterly dividend of US$0.025 per share, continuing a 13-year dividend payment history.
• Total of $285 million returned to shareholders through dividends and buybacks.
• Introduction of a dividend reinvestment plan offering shares at a 3% discount.

Negative

• None.

TORONTO, Nov. 22, 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 $285 million has been returned to shareholders through dividends and share buybacks, including $48 million thus far in 2022.

The dividend is payable on December 20, 2022 to shareholders of record as of the close of business on December 6, 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 3% 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 December 20, 2022 dividend, enrollment must be completed by 4:00 pm EST on the fifth business day prior to the December 6, 2022 dividend record date.

About Alamos

Alamos is a Canadian-based intermediate gold producer with diversified production from three operating mines in North America and a strong portfolio of growth projects. This includes the Young-Davidson and Island Gold mines in northern Ontario, Canada and the Mulatos mine in Sonora State, Mexico. 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 declared by Alamos Gold (AGI) for December 2022?

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

When will Alamos Gold (AGI) pay its dividend?

The dividend will be paid on December 20, 2022.

What is the record date for the Alamos Gold (AGI) dividend?

The record date for the dividend is December 6, 2022.

What is the dividend reinvestment plan (DRIP) offered by Alamos Gold (AGI)?

The DRIP allows shareholders to reinvest dividends at a 3% discount to the prevailing market price.

How much has Alamos Gold (AGI) returned to shareholders historically?

Alamos Gold has returned $285 million to shareholders through dividends and share buybacks over the past 13 years.