TORONTO, Aug. 27, 2021 (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$0.025 per common share. Additionally, the Company repurchased 600,000 shares at a cost of $4.5 million, or $7.50 per share, under its Normal Course Issuer Bid (“NCIB”) thus far in August.
Year-to-date the Company has repurchased 800,262 shares for $6.0 million. Including the upcoming dividend, the Company has returned $35 million to shareholders thus far in 2021 through dividends and share buybacks. The Company has paid dividends for 12 consecutive years during which time $223 million has been returned to shareholders through dividends and share buybacks.
The dividend is payable on September 30, 2021 to shareholders of record as of the close of business on September 16, 2021. This dividend qualifies as an “eligible dividend” for Canadian income tax purposes.
Dividend Reinvestment Plan
The Company has implemented a dividend reinvestment 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 2% 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 September 30, 2021 dividend, enrollment must be completed by 4:00 pm EST on the fifth business day prior to the September 16, 2021 dividend record date.
Alamos is a Canadian-based intermediate gold producer with diversified production from three operating mines in North America. This includes the Young-Davidson and Island Gold mines in northern Ontario, Canada and the Mulatos mine in Sonora State, Mexico. Additionally, the Company has a significant portfolio of development stage projects in Canada, Mexico, Turkey, and the United States. Alamos employs more than 1,700 people and is committed to the highest standards of sustainable development. The Company’s shares are traded on the TSX and NYSE under the symbol “AGI”.
FOR FURTHER INFORMATION, PLEASE CONTACT:
Scott K. Parsons
Vice President, Investor Relations