Fortitude Gold Increases Monthly Dividend

Rhea-AI Summary

Fortitude Gold Corp. (OTCQB:FTCO) announced a 16.7% increase in its monthly dividend to $0.035 per share, payable on July 30, 2021. This decision is attributed to strong operational performance at the Isabella Pearl mine, reflecting a solid cash position. The company aims to return cash to shareholders while managing capital needs for growth. This marks the second consecutive dividend increase, showcasing the company's confidence in generating free cash flow. Preliminary production numbers for Q2 are expected mid-July.

Positive

• Monthly dividend increased 16.7% to $0.035 per share.
• Strong operational performance at the Isabella Pearl mine enhancing cash position.
• Second consecutive dividend increase within months reflects company confidence.

Negative

• None.

COLORADO SPRINGS, CO / ACCESSWIRE / July 6, 2021 / Fortitude Gold Corp. (OTCQB:FTCO) (the "Company") today announced it has increased its monthly dividend 16.7% to $0.035 per common share, or $0.42 annually. Fortitude Gold is a gold producer, developer, and explorer with operations in Nevada, U.S.A.

The $0.035 per common share monthly dividend for July 2021 is payable on July 30, 2021 to shareholders of record as of July 19, 2021.

"The Isabella Pearl mine is exceeding expectations," stated Fortitude Gold's CEO and President, Mr. Jason Reid. "The dividend increase is based off strong second quarter operational performance and production which has delivered an increasingly strong cash position reflecting our ability and confidence to generate significant free cash from our high-grade Isabella Pearl gold mine. The Board of Directors is pleased to reward shareholders with this second dividend increase in as many months and remains focused on returning as much cash back to shareholders as possible, while balancing the capital needs of our operations, paying taxes and providing for future Company growth."

Second quarter preliminary Isabella Pearl production numbers are expected to be announced by mid-July.

Dividends may vary in amount and consistency or be discontinued at the Board of Directors' discretion depending on variables including but not limited to operational cash flows, Company development requirements and strategies, construction, spot gold and silver prices, taxation, general market conditions and other factors described in the Company's public filings with the U.S. Securities and Exchange Commission.

About Fortitude Gold Corp.:

Fortitude Gold is a U.S. based gold producer targeting projects with low operating costs, high margins, and strong returns on capital. The Company's strategy is to grow organically, remain debt-free and distribute substantial future dividends. The Company's Nevada Mining Unit consists of five high-grade gold properties located in the Walker Lane Mineral Belt, with the Isabella Pearl gold mine in current production. Nevada, U.S.A. is among the world's premier mining friendly jurisdictions.

Cautionary Statements: This press release contains forward-looking statements that involve risks and uncertainties. If you are risk-averse you should NOT buy shares in Fortitude Gold Corp. The statements contained in this press release that are not purely historical are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. When used in this press release, the words "plan", "target", "anticipate," "believe," "estimate," "intend" and "expect" and similar expressions are intended to identify such forward-looking statements. Such forward-looking statements include, without limitation, the statements regarding the Company's strategy, future plans for production, future expenses and costs, future liquidity and capital resources, and estimates of mineralized material are forward-looking statements. All forward-looking statements in this press release are based upon information available to the Company on the date of this press release, and the Company assumes no obligation to update any such forward-looking statements.

Forward looking statements involve a number of risks and uncertainties, and there can be no assurance that such statements will prove to be accurate. The Company's actual results could differ materially from those discussed in this press release. In particular, the scope, duration, and impact of the COVID-19 pandemic on mining operations, Company employees, and supply chains as well as the scope, duration and impact of government action aimed at mitigating the pandemic may cause future actual results to differ materially from those expressed or implied by any forward-looking statements. Also, there can be no assurance that production will continue at any specific rate.

Contact:

Greg Patterson
719-717-9825
greg.patterson@fortitudegold.com
www.Fortitudegold.com

SOURCE: Fortitude Gold Corp.

View source version on accesswire.com:
https://www.accesswire.com/654288/Fortitude-Gold-Increases-Monthly-Dividend

FAQ

What is the new dividend amount for Fortitude Gold Corp. (FTCO)?

The new dividend amount is $0.035 per common share, which is a 16.7% increase.

When will the dividend for July 2021 be paid by Fortitude Gold Corp. (FTCO)?

The dividend will be paid on July 30, 2021, to shareholders of record as of July 19, 2021.

How often does Fortitude Gold Corp. (FTCO) pay dividends?

Fortitude Gold Corp. pays dividends monthly.

What factors could affect future dividends for Fortitude Gold Corp. (FTCO)?

Future dividends may be affected by operational cash flows, company development requirements, gold prices, and market conditions.