Fortitude Gold Declares May 2025 Monthly Dividend

Rhea-AI Summary

Fortitude Gold (OTCQB:FTCO) has declared a monthly dividend of $0.01 per common share for May 2025, payable on May 30, 2025, to shareholders of record as of May 19, 2025. This represents a significant reduction from the previous monthly dividend of $0.04 per share. The company, which operates as a gold producer in Nevada, cited two main reasons for the dividend reduction: cash conservation while awaiting permit approval for its County Line project and capital allocation towards mining deeper oxide gold mineralization in the Isabella Pearl pit.

Positive

• Company maintains dividend payments despite operational challenges
• Plans to explore deeper oxide gold mineralization in Isabella Pearl pit
• Development of new County Line project in progress

Negative

• 75% reduction in monthly dividend from $0.04 to $0.01 per share
• Cash conservation needed due to pending permit approvals
• Operational challenges requiring additional capital allocation

COLORADO SPRINGS, CO / ACCESS Newswire / May 6, 2025 / Fortitude Gold Corp. (OTCQB:FTCO) (the "Company") declares its monthly dividend of $0.01 per common share payable on May 30, 2025 to shareholders of record as of May 19, 2025. Fortitude Gold is a gold producer, developer, and explorer with operations in Nevada, U.S.A. offering investors exposure to both gold production and dividend yield.

The Company announced on April 15, 2025 a modification to its monthly dividend from $0.04 per share per month to $0.01 per share per month beginning in May 2025. Reasons for the dividend modification include cash conservation while the Company waits for permit approval to build and operate its County Line project, and allocation of capital towards mining deeper in the Isabella Pearl pit having recently completed an analysis and modeling of oxide gold mineralization deeper in the pit.

Dividends may vary in amount and consistency or be discontinued at the Board of Directors' discretion depending on variables including but not limited to operational cash flows, Company development requirements and strategies, construction, spot gold and silver prices, taxation, general market conditions and other factors described in the Company's public filings with the U.S. Securities and Exchange Commission.

About Fortitude Gold Corp.:
Fortitude Gold is a U.S. based gold producer targeting projects with low operating costs, high margins, and strong returns on capital. The Company's strategy is to grow organically, remain debt-free, and distribute substantial dividends. The Company's Nevada Mining Unit consists of seven high-grade gold properties located in the Walker Lane Mineral Belt and an eighth high-grade gold property in west central Nevada. The Isabella Pearl gold mine, located on the Isabella Pearl mineralized trend, is currently in production. Nevada, U.S.A. is among the world's premier mining-friendly jurisdictions.

Cautionary Statements: This press release contains forward-looking statements that involve risks and uncertainties. If you are risk-averse you should NOT buy shares in Fortitude Gold Corp. The statements contained in this press release that are not purely historical are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. When used in this press release, the words "plan", "target", "anticipate," "believe," "estimate," "intend" and "expect" and similar expressions are intended to identify such forward-looking statements. Such forward-looking statements include, without limitation, the statements regarding the Company's strategy, future plans for production, future expenses and costs, future liquidity and capital resources, and estimates of mineralized material are forward-looking statements. All forward-looking statements in this press release are based upon information available to the Company on the date of this press release, and the Company assumes no obligation to update any such forward-looking statements. Forward-looking statements involve a number of risks and uncertainties, and there can be no assurance that such statements will prove to be accurate. The Company's actual results could differ materially from those discussed in this press release.

CONTACT:
Greg Patterson
719-717-9825
greg.patterson@fortitudegold.com
www.Fortitudegold.com

SOURCE: Fortitude Gold Corp

View the original press release on ACCESS Newswire

FAQ

What is Fortitude Gold's (FTCO) new dividend amount for May 2025?

Fortitude Gold's new dividend amount is $0.01 per common share, payable on May 30, 2025, to shareholders of record as of May 19, 2025.

Why did Fortitude Gold (FTCO) reduce its monthly dividend in May 2025?

Fortitude Gold reduced its dividend to conserve cash while awaiting permit approval for its County Line project and to allocate capital towards mining deeper oxide gold mineralization in the Isabella Pearl pit.

How much did Fortitude Gold (FTCO) reduce its monthly dividend by in May 2025?

Fortitude Gold reduced its monthly dividend by 75%, from $0.04 per share to $0.01 per share, effective May 2025.

When is the record date for Fortitude Gold's (FTCO) May 2025 dividend?

The record date for Fortitude Gold's May 2025 dividend is May 19, 2025.

What projects is Fortitude Gold (FTCO) currently developing?

Fortitude Gold is developing the County Line project and exploring deeper oxide gold mineralization in the Isabella Pearl pit in Nevada.