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Hecla Mining Company (“Hecla”)(NYSE:HL) is pleased to announce that its Board of Directors has increased the silver-linked dividend by $0.01 per year.
In September 2020, Hecla lowered the minimum threshold for payment of the silver-linked portion of its quarterly dividend where if Hecla’s average realized silver price for a quarter is $25 per ounce, the silver-linked quarterly dividend policy provided an annualized two cents per share. Today, Hecla is announcing that the Board is increasing the silver-linked dividend by $0.01 per share for each $5 increase in the quarterly average realized silver price per ounce above $25 per ounce.
“Our Board’s adoption of this increase reflects its confidence in Hecla’s cashflow performance and position as the United States’ largest silver producer,” said Hecla’s President and Chief Executive Officer, Phillips S. Baker, Jr. “We’ve enhanced our long-standing silver-linked portion of our dividend policy by increasing the payment by $0.01 per share. As prices rise, shareholders should get more of the Company’s cash flow which reflects continued strong operating and capital cost discipline.
“Given Hecla’s realized quarterly silver price of $25.66 satisfied the Company’s dividend criteria, I’m pleased to announce the Board has approved payment of this quarter’s dividend at this increased rate.”
The table below provides an overview of the augmented silver-linked dividend policy and the increased minimum dividends.
hecla’s mission is to create value for our shareholders by discovering, acquiring, developing, producing and marketing mineral resources at a profit. our people are our greatest resource. hecla’s enduring success would not be possible without the dedication, diligence and group effort provided by our people.
