Centerra Gold Announces Quarterly Dividend of C$0.07 per Common Share
Centerra Gold Inc. (CGAU) approves a quarterly dividend of C$0.07 per share, totaling approximately C$15.1 million or US$11.2 million. The dividend, payable on March 27, 2024, is eligible for Canadian income tax purposes.
The announcement of Centerra Gold Inc.'s quarterly dividend reflects the company's current financial health and its ability to generate positive cash flow. The declaration of a C$0.07 per common share dividend, totaling approximately C$15.1 million, provides insights into the company's liquidity and capital allocation strategy. It is important to assess the sustainability of such dividends, considering the company's earnings, payout ratio and the volatility of gold prices, which can significantly impact Centerra's revenue streams.
Investors should also consider the dividend yield in relation to the current share price to evaluate the attractiveness of the stock as an income-generating investment. Furthermore, the fact that the dividend is designated as an eligible dividend for Canadian income tax purposes implies a tax advantage for Canadian investors, potentially increasing the stock's appeal to this investor segment.
Centerra Gold Inc.'s dividend announcement can have implications for investor sentiment and stock market performance. Dividends are often seen as a sign of corporate stability and confidence by management in the company's future prospects. The decision by the Board to distribute dividends may be interpreted as a positive signal, potentially leading to an increase in stock demand. However, market conditions and investor perceptions of the gold mining sector as a whole also play a crucial role.
It would be beneficial to analyze the dividend in the context of industry standards, especially considering the cyclical nature of commodity-based industries. A comparison with dividend policies and yields of peer companies can provide further insight into Centerra's competitive position within the market.
02/22/2024 - 05:11 PM
TORONTO, Feb. 22, 2024 (GLOBE NEWSWIRE) -- Centerra Gold Inc. (“Centerra” or the “Company”) (TSX: CG) (NYSE: CGAU) announced today that its Board of Directors has approved a quarterly dividend of C$0.07 per common share – approximately C$15.1 million or US$11.2 million . The quarterly dividend is payable on March 27, 2024, to shareholders of record as of the close of business on March 13, 2024. The dividend is an eligible dividend for Canadian income tax purposes.
In accordance with Centerra’s dividend policy, the timing and quantum of dividends are to be determined by the Board of Directors from time-to-time based on, among other things, the Company’s operating results, cash flow and financial conditions, current and anticipated capital requirements, and general business conditions.
About Centerra Gold
Centerra Gold Inc. is a Canadian-based gold mining company focused on operating, developing, exploring and acquiring gold and copper properties in North America, Türkiye, and other markets worldwide. Centerra operates two mines: the Mount Milligan Mine in British Columbia, Canada, and the Öksüt Mine in Türkiye. The Company also owns the Goldfield District Project in Nevada, United States, the Kemess Project in British Columbia, Canada, and owns and operates the Molybdenum Business Unit in the United States and Canada. Centerra’s shares trade on the Toronto Stock Exchange (“TSX”) under the symbol CG and on the New York Stock Exchange (“NYSE”) under the symbol CGAU. The Company is based in Toronto, Ontario, Canada.
For more information:
Lisa Wilkinson lisa.wilkinson@centerragold.com
Lana Pisarenko lana.pisarenko@centerragold.com
Additional information on Centerra is available on the Company’s website at www.centerragold.com , on SEDAR+ at www.sedarplus.ca and EDGAR at www.sec.gov/edgar .
What is the amount of the quarterly dividend approved by Centerra Gold Inc. (CGAU)?
Centerra Gold Inc. (CGAU) has approved a quarterly dividend of C$0.07 per common share, totaling approximately C$15.1 million or US$11.2 million.
When will the quarterly dividend be payable to shareholders of Centerra Gold Inc. (CGAU)?
The quarterly dividend approved by Centerra Gold Inc. (CGAU) will be payable on March 27, 2024.
Is the quarterly dividend by Centerra Gold Inc. (CGAU) eligible for Canadian income tax purposes?
Yes, the quarterly dividend approved by Centerra Gold Inc. (CGAU) is eligible for Canadian income tax purposes.
How does Centerra Gold Inc. (CGAU) determine the timing and quantum of dividends?
Centerra Gold Inc. (CGAU) determines the timing and quantum of dividends based on factors such as operating results, cash flow, financial conditions, capital requirements, and general business conditions.
