Business
Amerigo Announces Q1-2022 Results and Quarterly Dividend
(NewsDirect) N.R. 2022-5 Q1-2022 net income of $15.5 million, earnings per sh...
About this update from Amerigo Resources Ltd
[{"type":"text","content":"Amerigo Announces Q1-2022 Results and Quarterly Dividend\n \n \n (NewsDirect)\n \n \n \n N.R.\n2022-5\n \n \n \n \n Q1-2022 net income of $15.5 million, earnings\nper share of $0.09 (Cdn$0.11)\n \n \n \n \n EBITDA\n \n \n \n 1\n \n \n \n of $26.4\nmillion, free cash flow to equity\n \n \n \n 1\n \n \n \n of $17.9\nmillion\n \n \n \n \n Dividend of Cdn$0.03 per share payable on June 20,\n2022\n \n \n \n \n Amerigo Resources Ltd. (TSX: ARG; ARREF: OTC)\n \n (“Amerigo” or the “Company”) is pleased to announce\nfinancial results for the three months ended March 31, 2022\n(“Q1-2022”).\n \n Dollar amounts in this news release are in U.S.\ndollars unless indicated otherwise.\n \n \n \n Amerigo’s quarterly financial results\nincluded net income of $15.5 million, earnings per share (“EPS”)\nof $0.09 (Cdn$0.11), EBITDA[1]\n \n \n of $26.4 million and free\ncash flow to equity (“FCFE”)\n \n 1\n \n of $17.9 million.\n \n \n “We\nare pleased to report a robust start to the year for Amerigo. We met\nour copper production and cash cost targets, and our average quarterly\ncopper price increased to $4.64 per pound”, said Aurora Davidson,\nAmerigo’s President and CEO. “Amerigo’s Board of Directors has\ndeclared a quarterly dividend of Cdn$0.03 per share. The Company’s\ndividend policy combines the strength of sustainable and reliable\nquarterly dividends, with the flexibility of top-up dividends that can\nbe declared anytime to distribute additional surplus cash to\nshareholders. We remain comfortable with a targeted minimum corporate\ncash balance of $20.0 to $25.0 million and our normal course issuer\nbid remains in place”, added Ms. Davidson.\n \n \n On May 2, 2022,\nAmerigo’s Board of Directors declared a quarterly dividend of\nCdn$0.03 per share, payable on June 20, 2022, to shareholders of\nrecord as of May 30, 2022. Amerigo designates the entire amount of\nthis taxable dividend to be an “eligible dividend” for purposes of\nthe Income Tax Act (Canada), as amended from time to time. Based on\nthe March 31, 2022 share closing price of Cdn$1.84, this would\nrepresent an annual dividend yield 6.52%.\n \n \n This news release should be read in\nconjunction with Amerigo’s interim consolidated fi...