MONTREAL–(BUSINESS WIRE)–$DNG #cash—Dynacor Gold Mines Inc. (TSX: DNG) (OTC: DNGDF) (Dynacor or the
Corporation) is pleased to announce today that its Board of
Directors (Board) has approved the initiation of quarterly cash
dividends to its shareholders and the declaration of the first cash
dividend in the company’s history. The dividend of CAD$ 0.01 per common
share, is payable on October 1, 2018 to shareholders of record on
September 20, 2018.
Dynacor is one of the largest ore purchasing processors in Peru. With
its new ore processing facility operating at near full capacity, the
Corporation is forecasting 2018 to be its best year on record. Dynacor’s
stable business model is proven to withstand the volatility of the gold
price. The Corporation is free of debt, in a healthy financial situation
and working towards its 30th consecutive quarter of profits.
President and CEO Jean Martineau states, “Our team has worked very hard
to build the Corporation to what it is today. Our solid financial
situation and leadership position in our market tells us the time is
right to begin what we believe will be a lasting quarterly dividend
payment initiative. We have a strong shareholder base that has loyally
provided their support over the years. I am especially pleased to say
that this long-awaited dividend declaration together with the
Corporation’s recently announced share repurchase program are part of
our strategic plan to maximize returns to our deserving shareholders.”
The declaration and payment of dividends is at the discretion of the
Board and will depend on the Corporation’s financial results, cash
requirements, future prospects and other factors deemed relevant by the
The Corporation’s dividend payments will qualify as an ‘eligible
dividend’ for Canadian income tax purposes.
ABOUT DYNACOR GOLD MINES INC.
Dynacor Gold Mines Inc. is a gold production corporation headquartered
in Montreal, Canada. The corporation is engaged in production through
its government approved ore processing operations. At present, Dynacor
produces and explores in Peru where its management team has decades of
experience and expertise. In 2017, Dynacor produced 79,897 ounces of
gold, a 9% increase as compared with 2016 (73,477 ounces). Dynacor
trades on the Toronto Stock Exchange (DNG) and the OTC in the United
States under the symbol DNGDF.
FORWARD LOOKING INFORMATION
Certain statements in the foregoing 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.
Dynacor Gold Mines Inc. (TSX: DNG)
Dynacor Gold Mines Inc. (Dynacor)
Toronto Stock Exchange (TSX)
For more information, please contact:
Dynacor Gold Mines Inc.
Martineau, 514-393-9000 ext. 228
President and CEO
Nejmeldeen, 604-492-0099 | M: 604-562-1348