Aura Minerals announces amendment to its dividend policy and declares dividend of US$0.14 per share based on expected H1 2022 results

About this update from Aura Minerals Inc.

[{"type":"text","content":" ROAD TOWN, British Virgin Islands, June 13, 2022 (GLOBE NEWSWIRE) -- Aura Minerals Inc. (TSX: ORA, B3: AURA33) (“Aura” or the “Company”) announced today that the board of directors of the Company (the “Board”) has approved an amendment to its dividend policy (“Dividend Policy”), with the intention of declaring and paying dividends semi-annually. Under the Dividend Policy, the Company will determine a semi-annual cash dividend in an aggregate amount equal to 20% of its estimated Adjusted EBITDA1 for the relevant six months less sustaining capital expenditures and exploration capital expenditures for the same period. Dividends are expected to be declared and paid twice a year starting in 2022, based on the results and capital expenditures expected for the applicable six-month period, with a record date on the last month of each such period. As such, any dividend payable under the Dividend Policy will be declared in June and December of each year. The declaration of dividends under the Dividend Policy is subject to the discretion of the Company’s board of directors, having regard to the best interests of the Company and the limitations imposed by the solvency tests contained in the Company’s memorandum of association and articles of association and other requirements of applicable corporate law. Nothing in the Dividend Policy shall restrict the discretion of the Company’s board of directors from authorizing sustaining capital expenditures or exploration capital expenditures that the board of directors deems to be in the best interests of the Company. These expenditures may limit future amounts of dividends payable under the Dividend Policy. In addition to the amendment to the Dividend Policy, the Board has declared and approved the payment of a dividend (the “Dividend”) of US$0.14 per common share (approximately US$10 million in total). The Dividend is in respect of and is based on Aura’s expected financial results for the six months ending June 30, 2022. The Dividend will be paid on June 28, 2022 to shareholders of record as of the close of business on June 23, 2022 (“Record Date”). Shareholders of record as of the Record Date whose address on the books of TSX Trust Company, the Company’s registrar and transfer agent, is in Canada will receive the Canadian dollar equivalent of the Dividend, based on the market exchange rate avail...

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