Dynacor Group Announces Dividend Increase Following Robust Q3-2023 Results
21 Novembro 2023 - 9:30AM
Business Wire
Dynacor Group Inc. (TSX: DNG) (Dynacor or the Corporation), an
international gold ore industrial corporation servicing ASMs
(artisanal and small-scale miners), today announced its board of
directors approved a 16.666% increase to the Corporation's monthly
dividend. The monthly dividend will increase to Canadian 1.166667
cents from 1 cent and on an annual basis to Canadian 14 cents from
12 cents per common share starting in January 2024. This
announcement marks Dynacor's 5th dividend increase since the
Corporation paid its first dividend to shareholders in October
2018.
This decision follows the publication of our strong Q3-2023
financial results, which showcased a sales increase of 37.8% and a
net income boost of 212.5%, surpassing all expectations. Our EPS
was US$0.07, with an impressive revenue of US$63.4M. We also
reported record gold production exceeding 34,000 AuEq ounces.
Our robust cash from operating activities before change in
working capital items of US$3.9 million (US$0.10 per share), as
evidenced by these stellar results, has given us the financial
flexibility to return more cash to our shareholders. This dividend
increase underscores our confidence in the company's growth
prospects and stability.
We remain committed to rewarding our shareholders through
consistent dividend increases and stock buybacks (137,000 shares
repurchased in Q3) as we continue our growth trajectory.
The Corporation's monthly dividend qualifies as an "eligible
dividend" for Canadian income tax purposes. The payment and
increase of dividends are at the discretion of the Board and will
depend on the Corporation's financial results, cash requirements,
prospects and other factors deemed relevant by the Board.
ABOUT DYNACOR
Dynacor is a dividend-paying industrial gold ore processor
headquartered in Montreal, Canada. The corporation is engaged in
gold production through the processing of ore purchased from the
ASM (artisanal and small-scale mining) industry. At present,
Dynacor operates in Peru, where its management and processing teams
have decades of experience working with ASM miners. It also owns a
gold exploration property (Tumipampa) in the Apurimac
department.
The corporation intends to expand its processing operations in
other jurisdictions as well.
Dynacor produces environmentally and socially responsible gold
through its PX IMPACT® gold program. A growing number of supportive
firms from the fine luxury jewelry, watchmakers and investment
sectors pay a small premium to our customer and strategic partner
for this PX IMPACT® gold. The premium provides direct investment to
develop health and education projects for our artisanal and
small-scale miner’s communities.
Dynacor is listed on the Toronto Stock Exchange (DNG).
FORWARD-LOOKING INFORMATION
Certain statements in the preceding 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.
Shares Outstanding: 38,168,748
Website: http://www.dynacor.com Twitter:
http://twitter.com/DynacorGold
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version on businesswire.com: https://www.businesswire.com/news/home/20231121615469/en/
For more information, please contact:
Dale Nejmeldeen Director, Shareholder Relations Dynacor Group
Inc. T: 514-393-9000 #230 E: investors@dynacor.com
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