North American Palladium Ltd. (fka PALDF)

[JD400]

North American Palladium Delivers Strong Q1 2019 Financial Results, Eliminates Debt and Increases Dividend
May 02 2019
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TORONTO, May 02, 2019 (GLOBE NEWSWIRE) -- North American Palladium Ltd. ("NAP" or the "Company") (TSX:PDL)(OTC PINK:PALDF) today announced financial and operational results for the three months ended March 31, 2019.

First Quarter Highlights

Based on 56,775 ounces of palladium sold, revenue for the quarter increased to $128.3 million compared to $86.6 million for the same period in 2018; the highest quarterly revenue in the Company’s history.
Net income was $29.5 million or $0.50 per share, compared to $4.6 million or $0.08 per share reported for Q1 2018.
Cash provided from operations was $75.8 million; free cash flow was $46.8 million.
Adjusted EBITDA1 increased to $61.6 million up from $28.4 million in Q1 2018.
The Company’s total cash balance on its credit facility of $37.0 million was eliminated during the quarter.
The Company’s board of directors is pleased to announce an increase in the quarterly dividend from $0.03 to $0.10 per share to common shareholders of record on June 1, 2019.

“Q1 2019 was a positive quarter for North American Palladium and our Lac des Iles Mine,” stated Jim Gallagher, President and CEO. “The site continues to lead in safety with another Lost Time Injury-free quarter. Good overall production combined with strong palladium prices have enabled the Company to both retire its debt and increase its dividend. While we did experience a few mechanical challenges in the mill, overall Lac des Iles operated exceptionally during the first quarter. Additionally, I want to recognize the recent successes from our exploration team, delivering positive results on multiple fronts.”

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$PALDF

https://www.nap.com/investors/news-releases/news-releases-details/2019/North-American-Palladium-Delivers-Strong-Q1-2019-Financial-Results-Eliminates-Debt-and-Increases-Dividend/default.aspx