Fortitude Gold Initiates $0.24 Annual Dividend

Rhea-AI Summary

Fortitude Gold Corp. (OTCQB:FTCO) announced the initiation of a monthly dividend of $0.02 per common share, totaling $0.24 annually. This dividend, payable on April 30, 2021 to shareholders of record as of April 19, 2021, represents a significant milestone for the company. CEO Jason Reid highlighted that this step enhances shareholder value through consistent cash distributions. The company emphasizes that dividends may vary and depend on operational cash flows and market conditions.

Positive

• Initiation of a monthly dividend of $0.02 per share, amounting to $0.24 annually, enhancing shareholder returns.
• Positioning to grow organically and remain debt-free, which may attract long-term investors.

Negative

• Dividends may vary or be discontinued based on cash flows and market conditions, introducing uncertainty.
• Potential risks associated with forward-looking statements regarding production and operational impacts.

COLORADO SPRINGS, CO / ACCESSWIRE / April 5, 2021 / Fortitude Gold Corp. (OTCQB:FTCO) (the "Company") today instituted a monthly dividend of $0.02 per common share, or $0.24 annually. Fortitude Gold is a gold producer, developer, and explorer with operations in Nevada, U.S.A.

The $0.02 per common share monthly dividend for April 2021 is payable on April 30, 2021 to shareholders of record as of April 19, 2021.

"The initiation of our monthly dividend marks a Company milestone," stated Fortitude Gold's CEO and President, Mr. Jason Reid. "Dividends reward Fortitude Gold shareholders through monthly cash distributions and takes an initial step towards a new metric for the market to value the Company based on dividend yield."

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/638980/Fortitude-Gold-Initiates-024-Annual-Dividend

FAQ

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

Fortitude Gold has announced a monthly dividend of $0.02 per common share, totaling $0.24 annually.

When is the dividend payment date for Fortitude Gold (FTCO)?

The dividend payment date is April 30, 2021.

Who are the shareholders of record for the dividend of Fortitude Gold (FTCO)?

The shareholders of record for the dividend are those on record as of April 19, 2021.

What factors could affect the dividend payments for Fortitude Gold (FTCO)?

Dividend payments may vary or be discontinued based on operational cash flows, development requirements, and market conditions.

What is the significance of the dividend for shareholders of Fortitude Gold (FTCO)?

The dividend signifies a commitment to returning value to shareholders and provides a new metric for evaluating the company's market value.