Dynacor Declares July 2022 Monthly Dividend

Rhea-AI Summary

Dynacor Gold Mines Inc. has declared a monthly dividend of C$0.0083 per common share, set for payment on July 19, 2022, to shareholders on record as of July 8, 2022. This marks the 28th dividend distribution and the 18th consecutive monthly payment. The dividend qualifies as an eligible dividend for Canadian tax purposes. The company's ability to pay dividends is at the discretion of its Board, influenced by financial results, cash requirements, and other factors relevant to the Corporation.

Positive

• Monthly dividend payment of C$0.0083 per share enhances shareholder income.
• 28th overall dividend payment, reflecting ongoing commitment to return value to shareholders.

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• None.

MONTREAL, June 22, 2022 (GLOBE NEWSWIRE) -- Dynacor Gold Mines 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 July 19, 2022, to shareholders of record as of the close of business on July 8, 2022. This dividend represents the twenty-eight (28^th) dividend and (18^th) eighteenth 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.

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

PDF available: http://ml.globenewswire.com/Resource/Download/9c93b0ef-b731-4241-a94f-1cfc77254db3

FAQ

What is the dividend amount announced by Dynacor Gold Mines for July 2022?

Dynacor Gold Mines has declared a dividend of C$0.0083 per common share for July 2022.

When will the dividend be paid to shareholders?

The dividend will be payable on July 19, 2022, to shareholders of record as of July 8, 2022.

How frequently does Dynacor Gold Mines pay dividends?

Dynacor Gold Mines pays dividends monthly, with the July payment being the 18th consecutive monthly distribution.

Is the dividend from Dynacor Gold Mines eligible for Canadian tax benefits?

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