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Yamana Gold (AUY) reported robust Q2 2020 results, highlighting adjusted net earnings of $63.3 million ($0.07/share), compared to $19.8 million ($0.02/share) in Q2 2019. Free cash flow reached $60.3 million, while net debt decreased by $101.1 million to $768 million. Gold production was 164,141 ounces, exceeding targets, with lower costs due to favorable foreign exchange movements. The company announced a 12% dividend increase, totaling a 250% rise over the past year. Future guidance reaffirms an annual production target of 890,000 GEO, and the company is advancing its London Stock Exchange listing.
Yamana Gold Inc. (NYSE:AUY) has announced a 12% increase in its annual dividend, bringing it to $0.07 per share. This is the fourth increase in the past year, totaling a 250% cumulative rise. The company emphasizes its ability to sustain this dividend level due to growing cash flows and successful monetization of non-producing assets. Currently, dividends exceed $70 per gold equivalent ounce. Since 2006, Yamana has paid over $940 million in dividends, showcasing its commitment to investor returns.
Yamana Gold is advancing towards a listing on the London Stock Exchange (LSE) and plans to admit its common shares to the standard segment of the Official List. This listing aims to attract European investors and enhance liquidity. Yamana's profile includes five high-quality mines, a production target of approximately 1 million gold equivalent ounces (GEO) for 2021-2022, and strong cash flow with a commitment to dividends. The company does not plan to raise equity capital alongside this listing, aiming to strengthen its shareholder returns and financial position further.
Yamana Gold Inc. (NYSE: AUY) will release its Q2 2020 financial results on July 23, 2020, post-market. A conference call is scheduled for July 24, 2020, at 9:00 am ET, allowing investors to discuss the results. Participants can join via toll-free numbers or webcast at www.yamana.com. The call replay will be accessible from 12:00 p.m. ET on July 24 to 11:59 p.m. ET on August 14, 2020.
Yamana Gold Inc. (NYSE: AUY) released its 2019 Material Issues Report, detailing its environmental, social, and governance (ESG) performance. The report underscores Yamana's commitment to sustainable operations as essential for profitability and ethical business practices. It highlights annual ESG metrics and addresses material sustainability issues relevant to stakeholders. The company aims to expand its operations and optimize existing mines across the Americas, maintaining a focus on responsible and transparent practices.
Yamana Gold Inc. (NYSE: AUY) announced the filing of a National Instrument 43-101 technical report concerning its Jacobina mine in Brazil, effective December 31, 2019. The report is now available on www.sedar.com. Yamana focuses on gold and silver production across the Americas and aims to enhance its portfolio through expansions, new developments, and potential consolidation opportunities.
Yamana Gold Inc. has completed the $65 million sale of royalty interests to Nomad Royalty Company Ltd. The transaction includes $10 million in cash, $45 million in Nomad shares, and a potential $10 million deferred cash payment. This sale strengthens Yamana's financial flexibility and offers a stake in a new growth-oriented royalty company. Yamana now holds approximately 13% of Nomad shares, with rights to maintain this stake and have a board representative. The deal is part of Yamana's strategy to optimize its assets and enhance shareholder value.
