Yamana Announces 18% Dividend Increase
TORONTO, ONTARIO--(Marketwire - June 18, 2012) - YAMANA GOLD INC. (TSX:YRI)(NYSE:AUY)(LSE:YAU) ("Yamana" or the "Company") today announced that the Board of Directors has approved a $0.04 increase in the Company's annual dividend to $0.26 per share beginning in the third quarter of 2012. This represents an 18% increase from the second quarter dividend and a 117% increase in dividends from levels in place a year ago. Effective in the third quarter of 2012, shareholders of record on the established record date that will be determined on formal declaration of the dividend will receive $0.065 per share.
"This most recent dividend increase is the fourth dividend increase approved by the Company in the past 12 months signaling, yet again, that Yamana is committed to delivering growth and value to shareholders across all measures which includes dividends," commented Peter Marrone, Chairman and Chief Executive Officer. "The increase in dividends also demonstrates our confidence in the sustainability of higher levels of cash flow that are expected in the near term with our C1 Santa Luz and Ernesto/Pau-a-Pique projects soon to be contributing to production. We anticipate delivering further growth in the future helping to ensure that we can maintain our established track record of building value."
About Yamana
Yamana is a Canadian-based gold producer with significant gold production, gold development stage properties, exploration properties, and land positions in Brazil, Argentina, Chile, Mexico and Colombia. Yamana plans to continue to build on this base through existing operating mine expansions, throughput increases, development of new mines, the advancement of its exploration properties and by targeting other gold consolidation opportunities with a primary focus in the Americas.
marketwire.com |
