Dynacor Raises Monthly Dividend 25% to 0.83 Cents Canadian

Rhea-AI Summary

Dynacor Gold Mines Inc. announced a 25% increase in its monthly dividend, raising it to 0.83 CAD from 0.67 CAD, effective January 2022. This adjustment marks the third dividend increase since Dynacor initiated dividends in October 2018. The annual dividend will rise to 10 CAD from 8 CAD per common share. The monthly dividend qualifies as an eligible dividend for Canadian tax purposes, enhancing the benefits for shareholders. Dynacor operates gold processing in Peru and aims to expand its operations in other regions.

Positive

• Monthly dividend increased by 25% to 0.83 CAD.
• Annual dividend rises to 10 CAD from 8 CAD.
• Third consecutive dividend increase since October 2018.
• Monthly dividend qualifies as an eligible dividend for Canadian tax purposes.

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• None.

MONTREAL, Nov. 16, 2021 (GLOBE NEWSWIRE) -- Dynacor Gold Mines Inc. (TSX-DNG) (Dynacor or the "Corporation"), an international gold ore industrial corporation servicing ASMs (artisanal and small-scale miners), today announced its board of directors approved a 25% increase to the Corporation's monthly dividend. The monthly dividend will increase to Canadian 0.83 cents from 0.67 cents and on an annual basis to 10 cents from 8 cents per common share starting in January 2022. This marks Dynacor's 3rd dividend increase since the Corporation paid its first dividend to shareholders in October 2018.

The Corporation's monthly dividend qualifies as an "eligible dividend" for Canadian income tax purposes.

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: 38 883 244

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

PDF available: http://ml.globenewswire.com/Resource/Download/329a95aa-d089-4ec8-ba2b-e6b827b0263f

FAQ

What is the new dividend amount for Dynacor Gold Mines Inc. (DNGDF)?

The new monthly dividend amount is 0.83 CAD, effective January 2022.

When will Dynacor Gold Mines Inc. (DNGDF) pay the increased dividend?

The increased dividend will be paid starting in January 2022.

How often does Dynacor Gold Mines Inc. (DNGDF) pay dividends?

Dynacor Gold Mines pays dividends on a monthly basis.

Is the dividend from Dynacor Gold Mines Inc. (DNGDF) eligible for Canadian tax purposes?

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

What has been the trend in Dynacor Gold Mines Inc.'s (DNGDF) dividends since 2018?

Dynacor has increased its dividends three times since it started paying dividends in October 2018.