Dynacor Declares August 2022 Monthly Dividend

Rhea-AI Summary

Dynacor Group Inc. (TSX: DNG) has declared a monthly dividend of C$0.0083 per common share, payable on August 19, 2022, to shareholders of record by August 9, 2022. This marks the 29th dividend and 19th monthly payout to shareholders. The dividend qualifies as an "eligible dividend" for Canadian tax purposes, contingent upon the Corporation’s financial performance and cash requirements. Dynacor operates as an industrial gold ore processor, focusing on responsible gold production and expanding processing operations in new jurisdictions.

Positive

• Monthly dividend of C$0.0083 enhances shareholder returns.
• Dynacor has a history of consistent monthly dividends, indicating financial stability.

Negative

• Future dividend payments depend on financial results and cash requirements, introducing uncertainty.

MONTREAL, July 27, 2022 (GLOBE NEWSWIRE) -- Dynacor Group Inc. (TSX: DNG) (Dynacor or the Corporation) announced its monthly dividend. The declaration of a dividend payment of C$0.0083 per common share will be payable on August 19, 2022, to shareholders of record as of the close of business on August 9, 2022. This dividend represents the twenty-ninth (29^th) dividend and (19^th) nineteenth monthly payment made to shareholders.

The Corporation’s monthly dividend qualifies as an “eligible dividend” for Canadian income tax purposes.
The payment and increase of dividends are at the discretion of the Board and will depend on the Corporation’s financial results, cash requirements, prospects and other factors deemed relevant by the Board.

ABOUT DYNACOR

Dynacor is a dividend-paying industrial gold ore processor headquartered in Montreal, Canada. The corporation is engaged in gold production through the processing of ore purchased from the ASM (artisanal and small-scale mining) industry. At present, Dynacor operates in Peru, where its management and processing teams have decades of experience working with ASM miners. It also owns a gold exploration property (Tumipampa) in the Apurimac department.

The corporation intends to expand its processing operations in other jurisdictions as well.

Dynacor produces environmental and socially responsible gold through its PX IMPACT® gold program. A growing number of supportive firms from the fine luxury jewelry, watchmakers and investment sectors pay a small premium to our customer and strategic partner for this PX IMPACT® gold. The premium provides direct investment to develop health and education projects for our artisanal and small-scale miner’s communities.

Dynacor is listed on the Toronto Stock Exchange (DNG).

FORWARD-LOOKING INFORMATION

Certain statements in the preceding may constitute forward-looking statements, which involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of Dynacor, or industry results, to be materially different from any future result, performance or achievement expressed or implied by such forward-looking statements. These statements reflect management’s current expectations regarding future events and operating performance as of the date of this news release.

Shares Outstanding: 38 822 577

Website: http://www.dynacor.com
Twitter: http://twitter.com/DynacorGold

PDF available: http://ml.globenewswire.com/Resource/Download/3072f815-659f-4a2d-ac2c-5d924fefc231

FAQ

What is the dividend amount declared by Dynacor for August 2022?

Dynacor declared a monthly dividend of C$0.0083 per common share for August 2022.

When will Dynacor's dividend be paid?

The dividend will be payable on August 19, 2022.

What is the record date for Dynacor's August dividend?

The record date for the dividend is August 9, 2022.

Is Dynacor's dividend eligible for Canadian income tax credit?

Yes, the dividend qualifies as an 'eligible dividend' for Canadian income tax purposes.

How frequently does Dynacor pay dividends?

Dynacor pays dividends monthly, with this being the 19th such payment.