Alamos Gold Declares Quarterly Dividend T.AGI | 3 days ago TORONTO, June 05, 2023 (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. The Company has paid dividends for 14 consecutive years during which time $304 million has been returned to shareholders through dividends and share buybacks, including $20 million thus far in 2023. The dividend is payable on June 29, 2023 to shareholders of record as of the close of business on June 15, 2023. 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 3% 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 June 29, 2023 dividend, enrollment must be completed by 4:00 pm EST on the fifth business day prior to the June 15, 2023 dividend record date.
About Alamos
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 strong portfolio of growth projects, including the Phase 3+ Expansion at Island Gold, and the Lynn Lake project in Manitoba, Canada. Alamos employs more than 1,900 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 Senior Vice President, Investor Relations (416) 368-9932 x 5439 All amounts are in United States dollars, unless otherwise stated. The TSX and NYSE have not reviewed and do not accept responsibility for the adequacy or accuracy of this release.
4,797 views Nov 23, 2023 Interview with John A. McCluskey, President & CEO of Alamos Gold Inc.
Recording date: 21st November 2023
Driving Returns Through Operational Excellence and Focused Growth Alamos Gold is a growth story and represents a unique investment opportunity within the gold mining space, combining steady free cash flow generation with extensive visible production growth. Since its founding in 2003, the company has created significant value for shareholders by converting high-margin assets into expanding low-cost gold output.
Led by mining veterans, management has systematically built a portfolio of Tier 1 operating mines during periods of market dislocation. These high-grade cornerstone assets in mining-friendly North American jurisdictions provide sector-leading cost performance. Supported by peer-low All-In Sustaining Costs (AISC) of around $1,000 per ounce, the company generates substantial cash flows throughout metal price cycles.
Unlike most mid-tier peers focused nearer-term on mine site exploration or marginal acquisitions, Alamos’ growth trajectory centers around fully-funded low-risk expansions. These construction projects add scale while lowering costs through operational leverage. The largest endeavor currently underway involves expanding Island Gold underground operations, which promises to increase output over 115% by 2026 once complete. Supporting further growth, existing infrastructure provides processing flexibility, extensive tailings capacity, and lower capital intensity for future development.
Beyond current mines, the company also controls what it believes is the best undeveloped gold deposit in Canada at Lynn Lake. Taken together, management targets boosting total production capacity 60% over coming years from 500,000 ounces currently to 800,000 ounces in 2028. Such growth promises significant cash flow expansion as gold prices rise.
Alamos Gold appears primed for future rerating as the market recognizes both high-quality assets and sector-leading growth. Exposure to rising gold prices with less risk forms a compelling opportunity for precious metals investors.
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