Kirkland Lake Gold Declares Quarterly Dividend Payment

TORONTO, Dec. 16, 2020 (GLOBE NEWSWIRE) -- Kirkland Lake Gold Ltd. (“Kirkland Lake Gold” or the “Company”) (TSX:KL) (NYSE:KL) (ASX:KLA) today announced that a quarterly dividend payment for the fourth quarter of 2020 (“Q4 2020”) of US$0.1875 per common share will be paid on January 14, 2021 to shareholders of record as of the close of business on December 31, 2020. The US$0.1875 per share payment represents a 50% increase in the quarterly dividend from the previous payment of US$0.125 per share, paid on October 14, 2020 to shareholders of record on September 30, 2020. The Q4 2020 payment represents the 15th quarterly dividend payment made to shareholders following the Company’s adoption of a dividend policy in March 2017. The Company’s quarterly dividend qualifies as an “eligible dividend” for Canadian income tax purposes. For Canadian shareholders, the US dollar dividend payment will be converted to Canadian dollars using the spot price exchange rate on January 13, 2021, the day prior to the payment date.

Returning capital to shareholders is an important strategic priority for Kirkland Lake Gold. To date in 2020, the Company has paid $116 million in dividend payments. The Company has also repurchased a total of 16.2 million shares through its normal course issuer bid for $618 million (C$830 million). In total, the Company has returned $734 million, or $2.71 per share, to shareholders so far in 2020 through dividend payments and share repurchases. The $734 million returned to shareholders represents $734 per ounce of production during the first nine months of 2020 (1,000,218 ounces).

About Kirkland Lake Gold Ltd.

Kirkland Lake Gold Ltd. is a growing gold producer operating in Canada and Australia that is on track to produce 1,350,000 – 1,400,000 ounces of gold in 2020. The production profile of the Company is anchored by three high-quality operations, including the Macassa Mine and Detour Lake Mine, both located in Northern Ontario, and the Fosterville Mine located in the state of Victoria, Australia. Kirkland Lake Gold's solid base of quality assets is complemented by district scale exploration potential, supported by a strong financial position with extensive management expertise.