Business
Aura Minerals Declares Dividend of US$ 60 Million
ROAD TOWN, British Virgin Islands, March 15, 2021 (GLOBE NEWSWIRE) -- Aura Minerals Inc. (TSX: ORA, B3: AURA33) (“Aura” or the “Company”) announced today that t
About this update from Aura Minerals Inc.
[{"type":"text","content":" ROAD TOWN, British Virgin Islands, March 15, 2021 (GLOBE NEWSWIRE) -- Aura Minerals Inc. (TSX: ORA, B3: AURA33) (“Aura” or the “Company”) announced today that the board of directors of the Company approved the payment of a dividend (the “Dividend”) of US$ 0.83 per common share (approximately US$ 60 million in total). The Dividend is in excess of the minimum dividend payable pursuant to the Company’s dividend policy, as announced June 22, 2020, based on the Company’s financial results for the year ended December 31, 2020. The Dividend will be paid on April 6, 2021 to shareholders of record as of the close of business on March 26, 2021. Shareholders of record 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 Bank of Canada daily average exchange rate on the day before the payable date. All other shareholders will receive the Dividend in US dollars. Holders of the Company’s Brazilian Depositary Receipts (“BDRs”) are expected to receive payment by April 17, 2021. Holders of BDRs will receive the Brazilian Reais equivalent of the Dividend, based on the exchange rate on the payment date to BDR holders. The Dividend is not subject to withholding taxes at the time of payment by the Company. Rodrigo Barbosa, President & CEO, comments: “The Company finished 2020 in a very strong position, with US$ 118 million in cash and negative net debt of US$ 48 million. Additionally, as previously disclosed, GEO production is expected to increase during 2021 by 22% to 42%, which should lead to stronger results in the year ahead. We believe that we are in a comfortable position to fund development of Almas, our planned expansions and other greenfield projects such as Matupa and still have excess capital. Therefore, as we generate high returns from our internal investments and continue to have a strong balance sheet, we believe that our shareholders will benefit from such Dividend at this time.” Forward-Looking Information This press release contains “forward-looking information” and “forward-looking statements”, as defined in applicable securities laws (collectively, “forward-looking statements”) which include, but are not limited to, statements with respect to the activities, events or developments that the C...