Dynacor Declares Third Quarterly Dividend Payment
MONTREAL, March 12, 2019 (GLOBE NEWSWIRE) — Dynacor Gold Mines Inc. (TSX: DNG / OTC: DNGDF) (Dynacor or the Corporation) is pleased to announce its quarterly dividend payment of CA $0.01 per common share is payable on April 3, 2019 to shareholders of record as of the close of business on March 20, 2019. The payment represents the third quarterly dividend payment made to shareholders. The Corporation’s quarterly dividend qualifies as an “eligible dividend” for Canadian income tax purposes.’’
The declaration and payment 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.
DYNACOR’S CASH RETURN TO SHAREHOLDERS
Dynacor’s strategy to return cash to shareholders includes both the quarterly dividend payments which the Board approved in 2018 together with an active NCIB (normal course issuer bid) program.
Since inception Dynacor has paid dividends to its shareholders amounting to CA $0.02 per share. As of April 23, 2018, the NCIB initiation date, the Corporation has repurchased 747,575 common shares for a total cash consideration of CA $1,275,270.
Dynacor is a dividend-growth gold production corporation headquartered in Montreal, Canada. The corporation is engaged in production through the processing of ore purchased from small scale artisanal miners. At present, Dynacor produces and explores in Peru where its management team has decades of experience and expertise. In 2018, Dynacor finished with 81,314 ounces of gold production, a yearly best and 1.8% increase as compared with 2017 (79,897 ounces).
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 (TSX: DNG / OTC: DNGDF)
For more information, please contact: Dynacor
Director, Shareholder Relations
T: 604.492.0099 | M: 604.562.1348