Dynacor Increases Its Monthly Dividend BY 33 Percent
DYNACOR INCREASES ITS MONTHLY DIVIDEND BY 33 PERCENT
Montreal, May 20, 2021 – Dynacor Gold Mines Inc. (TSX -DNG) (Dynacor or the
"Corporation"), an international gold ore industrial corporation servicing ASMs (artisanal
and small-scale miners), today announced its board of directors approved a 33 percent
increase to the Corporation's monthly dividend. The new monthly cash dividend will
increase to C$0.0067 from C$0.0050 and on an annual basis to C$0.08 from C$0.06 per
common share, a 33 percent increase.
The Corporation continues to perform well, and this dividend increase reflects its solid
cashflows and financial situation consistent with its operational and strategic objectives.
President and CEO Jean Martineau states, "We are delighted to announce today's news
of the 33 percent dividend increase. We declared our first dividend back in August of
2018, and after fifteen payments will have increased the dividend paid to shareholders by
100 percent. Today's dividend increase announcement, together wi th our active stock
repurchase program, signifies our commitment to return cash to our shareholders. As we
advance, we are confident in our ability to continue to elevate our operations, earnings,
and cash flow, supporting continued dividend increases in the future."
The Corporation's monthly dividend qualifies as an "eligible dividend" for Canadian
income tax purposes.
ABOUT DYNACOR
Dynacor is a dividend -paying industrial gold ore processor headquartered in Montreal,
Canada. The corporation is engaged in gold production through the processing of ore
purchased from the ASM (artisanal and small-scale mining) industry. At present, Dynacor
operates in Peru, where its management and processing teams have decades of
experience working with ASM miners. It also owns a gold exploration property
(Tumipampa) in the Apurimac department.
The corporation intends to expand its processing operations in other jurisdictions as well.
Dynacor produces environmental and socially responsible gold through its PX IMPACT®
gold program. A growing number of supportive firms from the fine luxury jewelry,
watchmakers and investment sectors pay a small premium to our customer and strategic
partner for this PX IMPACT® gold. The premium provides direct investment to develop
health and education projects for our artisanal and small-scale miner’s communities.
Dynacor is listed on the Toronto Stock Exchange (DNG) and the OTC in the United States
under the symbol (DNGDF).
FORWARD-LOOKING INFORMATION
Certain statements in the preceding may constitute forward -looking statements, which
involve known and unknown risks, uncertainties and other factors that may cause the
actual results, performance or achievements of Dynacor, or industry results, to be
materially different from any future result, performance or achievement expressed or
implied by such forward -looking statements. These statements reflect management’s
current expectations regarding future events and operating performance as of the date of
this news release.
Toronto Stock Exchange (TSX): DNG
OTC (United States): DNGDF
Shares Outstanding: 38,727,524
Website: http://www.dynacor.com
Twitter: http://twitter.com/DynacorGold
CONTACT: For more information, please contact:
Director, Shareholder Relations
Dale Nejmeldeen
Dynacor Gold Mines Inc.
T: 514-393-9000 #230