Alamos Gold Declares Quarterly Dividend
Dividend payment represents 33% increase from previous quarter
TORONTO, Nov. 24, 2020 (GLOBE NEWSWIRE) -- Alamos Gold Inc. (TSX:AGI; NYSE:AGI) (“Alamos” or the “Company”) today announced that the Company’s
Board of Directors has declared a quarterly dividend of US$0.02 per common share.
Quarterly Dividend Increased 33%
As announced in October 2020, the Company has increased its quarterly dividend by 33% to an annual rate of US$0.08 per common share. The increase reflects the Company’s strong free cash flow outlook following the completion of the lower mine expansion at Young-Davidson in July 2020. The Company has paid dividends for 11 consecutive years during which time $187 million has been returned to shareholders through dividends and share buybacks.
The dividend is payable on December 21, 2020 to shareholders of record as of the close of business on December 7, 2020. This dividend qualifies as an “eligible dividend” for Canadian income tax purposes.
Dividend Reinvestment Plan and Suspension of Optional Cash Purchases
The Company has implemented a dividend reinvestment and share purchase plan (“DRIP”). This gives shareholders the option of increasing their investment in Alamos, at a discount to the prevailing market price and without incurring any transaction costs, by electing to receive common shares in place of cash dividends. For shareholders that elect to participate in the DRIP, common shares will be issued from treasury at a 3% discount to the prevailing market price.
Enrollment in the DRIP is optional. Further information on the plan, including the forms needed to enroll, are available on the Company’s website at http://www.alamosgold.com/investors/Dividend-Reinvestment-Plan. In order to be eligible to participate in the December 21, 2020 dividend, enrollment must be completed by 4:00 pm EST on the fifth business day prior to the December 7, 2020 dividend record date.
The Company hereby notifies shareholders, in accordance with Section 9.4 of the DRIP, that Optional Cash Purchases (as defined in the DRIP) with this, and any future declaration of dividends are suspended immediately until further notice. Any written requests to make Optional Cash Purchases will not be processed, and such requests and any previously received funds will be returned to the participant by the Plan Agent (as defined in the DRIP). Accordingly, the Combined Pre-Authorized Debit Agreement/Option Cash Purchase Voucher sent to participants with their respective statements will no longer be accepted and enrollment for the pre-authorized debit service will no longer be available until further notice.