Business
Majestic Gold Corp. Declares a Dividend of Cad$0.007 Per Share
(TheNewswire) Vancouver, British Columbia – TheNewswire - August 29, 2024 - ...
About this update from Majestic Gold Corp.
[{"type":"text","content":"Majestic Gold Corp. Declares a Dividend of Cad$0.007 Per Share\n\n\n (TheNewswire)\n \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n Vancouver, British Columbia –\n \n\n TheNewswire -\n \n\n August 29, 2024 - Majestic Gold\nCorp.\n \n\n (“Majestic” or the “Company”)\n(TSX.V: MJS, FSE: A0BK1D) is pleased to announce that its Board of\nDirectors has declared special cash dividend for 2024 of CAD$0.007 per\ncommon share. The total payout for the special dividend will amount to\napproximately CAD$7.3 million. The special dividend will be\ndistributed on October 11, 2024 to the Shareholders of record at the\nclose of business on September 27, 2024.\n \n\n\n\n Based on yesterday’s closing price of the Company’s\ncommon shares on the Toronto Stock Venture Exchange\n(\"TSX-V\") of  CAD$0.065,  this special dividend  of\n CAD$0.007  per  common  share  represents  an  estimated\n yield of approximately 10.76%.\n \n\n\n\n “The continued strength of our balance sheet allows\nus to distribute a special dividend while maintaining  ample\nliquidity  to  invest  in  growing  the Company.” said\nPresident and Chief Executive Officer Stephen Kenwood.\n \n\n\n\n This dividend is designated as an “eligible\ndividend” for Canadian income tax purposes. Dividends paid to\nshareholders that are non-residents of Canada are generally subject to\nwithholding tax unless reduced in accordance with the provisions of an\napplicable tax treaty.\n \n\n\n\n The declaration and payment of future dividends and the\namount of any such dividends will be subject to the determination of\nthe Board, in its sole and absolute discretion, taking into account,\namong other things, economic  conditions,  business  performance,\nfinancial  condition,  growth  plans,  expected  capital\nrequirements, compliance with Majestic's constating documents, all\napplicable laws, including the rules and policies of any applicable\nstock exchange, as well as any other factors that the Board deems\nappropriate at the relevant time. There can be no assurance that any\nfuture dividends will be paid.\n \n\n\n\n Additional information can be found at\n \n\n\n\n https://majesticgold.com/investors/dividends/\...