Centerra Gold Announces Quarterly Dividend of C$0.07 per common share
Centerra Gold Inc. (CGAU) announced a quarterly dividend of C$0.07 per common share, totaling approximately C$20.8 million or US$16.4 million. This dividend is set for payment on December 3, 2021, to shareholders of record by November 19, 2021. The Board of Directors will consider various factors, including developments at the Kumtor Mine and COVID-19, when determining future dividends. Centerra operates mines in Canada and Turkey, focusing on gold and molybdenum production.
- Quarterly dividend of C$0.07 per share, reflecting company profitability.
- Total dividend payout of approximately C$20.8 million, indicating strong cash flow.
- Future dividends may be affected by developments related to Kumtor Mine and COVID-19 risks.
- Dependence on cash flow and financial conditions raises concerns about sustainability of dividend payments.
TORONTO, Nov. 05, 2021 (GLOBE NEWSWIRE) -- Centerra Gold Inc. (“Centerra”) (TSX: CG) (NYSE: CGAU) announced today that its Board of Directors has approved a quarterly dividend of C
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:
John W. Pearson
Vice President, Investor Relations
(416) 204-1953
john.pearson@centerragold.com
Toby Caron
Treasurer and Director, Investor Relations
Centerra Gold Inc.
(416) 204-1153
toby.caron@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.
A PDF accompanying this announcement is available at http://ml.globenewswire.com/Resource/Download/34f1c984-1fb6-4d76-98b1-2a7e80892bb2
FAQ
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