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Lundin Gold Adds New Variable Component To Its Dividend Policy And Announces A Special Dividend
VANCOUVER, BC, May 8, 2025 /CNW/ - Lundin Gold Inc. (TSX: LUG) (Nasdaq Stockholm: LUG) (OTCQX: LUGDF) ("Lundin Gold" or the "Company") is pleased to announce
About this update from Lundin Gold Inc.
[{"type":"text","content":" VANCOUVER, BC, May 8, 2025 /CNW/ - Lundin Gold Inc. (TSX: LUG) (Nasdaq Stockholm: LUG) (OTCQX: LUGDF) (\"Lundin Gold\" or the \"Company\") is pleased to announce that its Board of Directors has amended the Company's dividend policy and declared cash dividends of US$0.45 per common share. The declaration includes a new variable quarterly dividend of US$0.15 per share (the \"Variable Dividend\") and the existing fixed quarterly dividend of US$0.30 per share (the \"Fixed Dividend\"). The Variable Dividend and the Fixed Dividend (collectively, the \"Quarterly Dividends\") will be payable on June 25, 2025 to shareholders of record at the close of business on June 10, 2025 (the \"Quarterly Record Date\"). In addition, the Board has declared a special dividend of US$0.41 per common share (the \"Special Dividend\"), equivalent to approximately US$100 million. This Special Dividend will be payable on June 9, 2025, to shareholders of record at the close of business on May 22, 2025 (the \"Special Record Date\"). The Quarterly Dividends and the Special Dividend qualify as \"eligible dividends\" under Canadian income tax rules. \"Given the favourable combination of increased gold prices, a debt-free balance sheet, and the robust performance of our operations, I am very pleased to announce both a special dividend totalling approximately US$100 million, and the introduction of a variable quarterly dividend to complement our existing fixed dividends,\" said Ron Hochstein, President and CEO. \"Moving forward, our sustainable fixed dividend combined with the new variable quarterly dividend will enable us to increase returns to our shareholders during periods of strong free cash flow, while still allowing us to fund our successful exploration programs and pursue growth opportunities.\" Special Dividend payable on June 9, 2025 U.S. dollars per share Approximate total in US$m Special Dividend 0.41 100 Quarterly Dividends payable on June 25, 2025 U.S. dollars per share Approximate total in US$m Fixed Dividend 0.30 72 Variable Dividend 0.15 37 Total Quarterly Dividend 0.45 109 Subject to the continued discretion of the Board of Directors, the Variable Dividend will be equal to an amount per share based on at least 50% of the Company's normalized free cash flow during the preceding quarter,...