Alamos Gold Declares Quarterly Dividend and Announces Share Repurchases Under Normal Course Issuer Bid

Rhea-AI Summary

Alamos Gold Inc. (AGI) declared a quarterly dividend of US$0.025 per common share and repurchased 600,000 shares for $4.5 million at $7.50 per share in August. Year-to-date, it has repurchased 800,262 shares for $6.0 million, returning $35 million to shareholders through dividends and buybacks in 2021. The dividend is payable on September 30, 2021, to shareholders recorded by September 16, 2021. The company offers a dividend reinvestment plan allowing shareholders to acquire shares at a 2% discount. Alamos has consistently paid dividends for 12 years, returning $223 million to shareholders.

Positive

• Declared a quarterly dividend of US$0.025, strengthening shareholder returns.
• Repurchased 600,000 shares in August, totaling 800,262 shares repurchased year-to-date, enhancing EPS.
• Returned $35 million to shareholders through dividends and buybacks in 2021.
• Long-term commitment to dividends with $223 million returned over 12 years.

Negative

• None.

TORONTO, Aug. 27, 2021 (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. Additionally, the Company repurchased 600,000 shares at a cost of $4.5 million, or $7.50 per share, under its Normal Course Issuer Bid (“NCIB”) thus far in August.

Year-to-date the Company has repurchased 800,262 shares for $6.0 million. Including the upcoming dividend, the Company has returned $35 million to shareholders thus far in 2021 through dividends and share buybacks. The Company has paid dividends for 12 consecutive years during which time $223 million has been returned to shareholders through dividends and share buybacks.

The dividend is payable on September 30, 2021 to shareholders of record as of the close of business on September 16, 2021. 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 30, 2021 dividend, enrollment must be completed by 4:00 pm EST on the fifth business day prior to the September 16, 2021 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.

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 declared by Alamos Gold Inc. (AGI)?

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

When will the dividend be paid to shareholders of AGI?

The dividend will be payable on September 30, 2021, to shareholders on record as of September 16, 2021.

How many shares has Alamos Gold repurchased in 2021?

Alamos Gold has repurchased 800,262 shares for a total of $6.0 million year-to-date.

What is the purpose of Alamos Gold's dividend reinvestment plan?

The dividend reinvestment plan allows shareholders to reinvest their dividends to acquire additional shares at a 2% discount.

How much has Alamos Gold returned to shareholders in 2021?

Alamos Gold has returned $35 million to shareholders through dividends and share buybacks in 2021.