InvestmentPitch Media Video Discusses Dynacor Group’s Increase of its Monthly Dividend by 20%, Current Yield now 4.27%
Dynacor Group Inc (TSX:DNG) has announced a 20% increase in its monthly dividend, now set at $0.01 per share, translating to an annual yield of 4.27% based on the current price of $2.81. This marks the fourth dividend increase since its initial payment in October 2018, underscoring management's confidence in the company’s ability to generate robust earnings and cash flows. The company operates in gold ore processing and has recently expanded its processing capacity to 500 tonnes per day at its Veta Dorada plant in Peru, becoming a top gold exporter in the region.
- 20% increase in monthly dividend to $0.01, yielding 4.27%.
- Fourth dividend increase since October 2018, indicating strong cash flow.
- Processing capacity at Veta Dorada plant increased to 500 tonnes per day.
- Dynacor is now the ninth largest gold exporter in Peru.
- None.
VANCOUVER, British Columbia, Dec. 15, 2022 (GLOBE NEWSWIRE) -- Montreal-based Dynacor Group Inc (TSX:DNG), a dividend-paying international industrial gold ore processor, has increased its monthly dividend by
Jean Martineau, President and CEO, stated: "Dynacor is committed to returning cash to its shareholders and maintaining a strong financial position. The company has raised the dividend four times in four years, proving management’s confidence in Dynacor's ability to generate robust earnings and increased cash flows. Today's announcement reflects our commitment to our shareholders and demonstrates Dynacor's stability and growth potential as we advance."
A Media Snippet accompanying this announcement is available by clicking on the image or link below:
For more information, please view the InvestmentPitch Media video which provides additional information about this news and the company. The video is available for viewing on “InvestmentPitch” and on “YouTube”. If these links are not enabled, please visit www.InvestmentPitch.com and enter “Dynacor” in the search box.
Dynacor purchases ore from artisanal and small-scale miners which it processes at its Veta Dorada processing plant which is strategically located fifteen minutes off the Pan American Highway near Chala in southern Peru. The company recently increased the plant’s gold ore-processing capacity to 500 tonnes per day, an additional
The company owns
Dynacor, a founding partner in the PX IMPACT® gold program, produces environmental and socially responsible gold. A growing number of supportive firms from the fine luxury jewelry, watchmakers and investment sectors pay a small premium for this gold which provides direct investment to develop health and education projects for the artisanal and small-scale miner’s communities.
Jim Marrone, equity analyst at Singular research reiterated his buy recommendation, giving Dynacor a target price of US
The shares are currently trading at CDN
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