Business
Amerigo Resources Announces Q2-2024 Results & Quarterly Dividend
Q2-2024 Net Income of $9.8 million Quarterly EBITDA1 of $22.3 million – Free Cash Flow to Equity1 of $6.7 million 12th Quarterly Dividend of Cdn$0.03 per share
About this update from Amerigo Resources Ltd
[{"type":"text","content":" Q2-2024 Net Income of $9.8 million Quarterly EBITDA1 of $22.3 million – Free Cash Flow to Equity1 of $6.7 million 12th Quarterly Dividend of Cdn$0.03 per share declared, representing a 10.3% yield3 Previously declared Cdn$0.04 Performance Dividend triggered by Q2-2024 financial strength VANCOUVER, British Columbia, July 31, 2024 (GLOBE NEWSWIRE) -- Amerigo Resources Ltd. (TSX: ARG; OTCQX: ARREF) (“Amerigo” or the “Company”) is pleased to announce financial results for the three months ended June 30, 2024 (“Q2-2024”). Dollar amounts in this news release are in U.S. dollars unless indicated otherwise. Amerigo’s Q2-2024 financial results included net income of $9.8 million, earnings per share (“EPS”) of $0.06, EBITDA1 of $22.3 million and free cash flow to equity1 of $6.7 million. In Q2-2024, Amerigo returned $3.6 million to shareholders. Subsequent to quarter-end, on July 8, 2024, Amerigo declared its first performance dividend of Cdn$0.04. “We are pleased to report strong financial performance this quarter. A significant strengthening of copper prices and firm cost management contributed to strong earnings, EBITDA and free cash flow to equity,” said Aurora Davidson, Amerigo’s President and CEO. “With our annual maintenance shutdown now completed and the impact of the previously reported rain-induced production loss absorbed, our 2024 production guidance is intact.” “Amerigo’s Capital Return Strategy2 has been fully deployed with regular quarterly dividends, share buybacks, and performance dividends. At current copper prices, equivalent to those we received last quarter, we continue to generate significant amounts of capital to return to shareholders.” “The strength of Amerigo’s business plan is now on full display. Shareholders have received the declaration of our initial performance dividend very well and are benefitting from the prompt transfer of copper price strength to their pockets. Our initial performance dividend will be paid in addition to our twelfth quarterly dividend of Cdn$0.03, announced today. Despite the present short-term price correction, we anticipate continued strength in copper prices and look forward to returning capital as quickly as possible to shareholders,” she added. On July 29, 2024, Amerigo’s Board of Directors declared its twelfth quarterly dividend. The dividend will be in the amount of Cdn$0.03 pe...