By Adriano Marchese
MAG Silver announced its inaugural dividend that will have a fixed base of 2 Canadian cents (1 cent) and a component linked to the company's cash flows.
The Canadian precious metal company on Monday said that as well as the fixed dividend, it will distribute about 30% of cash flows from its Juanicipio mine in Mexico as the variable part of the dividend.
The board declared a fixed dividend of C$0.02 and an additional dividend linked to its cash flow which for the first dividend will be of C$0.16 for a total payout of C$0.18 a share.
Chief Executive George Paspalas said the dividend is a reflection of the company's confidence in the strength and sustainability of the business.
"This inaugural dividend, with both fixed and cash flow linked components, demonstrates our dedication to delivering consistent value while sharing Juanicipio's operational and financial success with our shareholders," Paspalas said.
The first dividend will be payable on April 21 to shareholders of record as of April 4.
Write to Adriano Marchese at adriano.marchese@wsj.com
(END) Dow Jones Newswires
March 24, 2025 07:32 ET (11:32 GMT)
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