Centerra Gold Announces Quarterly Dividend of C$0.07 per common share

Rhea-AI Summary

Centerra Gold Inc. (CGAU) has announced a quarterly dividend of C$0.07 per share, amounting to C$20.8 million (or approximately US$16.3 million). This dividend is payable on March 25, 2022, to shareholders recorded by March 11, 2022, and is considered eligible for Canadian income tax. The Board of Directors emphasized that future dividends will be contingent on factors such as the Kumtor Mine and COVID-19 impacts, alongside the company's operating results and financial conditions.

Positive

• Quarterly dividend of C$0.07 per share reflects company confidence.
• Total dividend payment of approximately C$20.8 million strengthens shareholder returns.

Negative

• Future dividends may be influenced by developments at Kumtor Mine.
• COVID-19 may affect the company's dividend program.

TORONTO, Feb. 25, 2022 (GLOBE NEWSWIRE) -- Centerra Gold Inc. (“Centerra”) (TSX: CG) (NYSE: CGAU) announced today that its Board of Directors has approved a quarterly dividend of C$0.07 per common share – approximately C$20.8 million or US$16.3 million. The quarterly dividend is payable on March 25, 2022, to shareholders of record on March 11, 2022. The dividend is an eligible dividend for Canadian income tax purposes.

The Company notes that going forward, in addition to the other factors that the Board of Directors normally considers in connection with the declaration of dividends, it will also need to carefully consider whether, and the extent to which, developments relating to the Kumtor Mine and / or COVID-19 affect its dividend program. In accordance with Centerra’s dividend policy, the timing and quantum of dividends are to be determined by the Board of Directors from time-to-time based on, among other things, the Company’s operating results, cash flow and financial conditions, Centerra’s current and anticipated capital requirements, and general business conditions.

About Centerra Gold

Centerra Gold Inc. is a Canadian-based gold mining company focused on operating, developing, exploring and acquiring gold properties in North America, Turkey and other markets worldwide. Centerra operates two mines: the Mount Milligan Mine in British Columbia, Canada, and the Öksüt Mine in Turkey. While the Company still owns the Kumtor Mine in the Kyrgyz Republic, it is currently no longer under the Company’s control. The Company also owns the pre-development stage Kemess Underground Project in British Columbia, Canada and owns and operates the Molybdenum Business Unit in the United States. Centerra's shares trade on the Toronto Stock Exchange (“TSX”) under the symbol CG and on the New York Stock Exchange (“NYSE”) under the symbol CGAU. The Company is based in Toronto, Ontario, Canada.

For more information:
Toby Caron
Treasurer and Director, Investor Relations
(416) 204-1694
toby.caron@centerragold.com

Shae Frosst
Manager, Investor Relations
(416) 204-2159
shae.frosst@centerragold.com

Additional information on Centerra is available on the Company’s web site at www.centerragold.com and at SEDAR at www.sedar.com and EDGAR at www.sec.gov/edgar.

FAQ

What is the dividend amount announced by Centerra Gold (CGAU)?

Centerra Gold announced a quarterly dividend of C$0.07 per share.

When will the dividend be paid to shareholders of Centerra Gold (CGAU)?

The dividend will be paid on March 25, 2022.

What factors will affect future dividends of Centerra Gold (CGAU)?

Future dividends will be influenced by developments related to the Kumtor Mine and COVID-19, as well as the company's financial conditions.

What is the total amount of the dividend payment for Centerra Gold (CGAU)?

The total dividend payment is approximately C$20.8 million or US$16.3 million.