SSR initiates quarterly dividend
Vancouver-based gold miner SSR, which recently merged with Alacer Gold, has initiated quarterly dividends, as it continued to generate strong free cash flow.
The company will pay four cash dividends of $0.05 a share each year, beginning in the first quarter of 2021.
On an annualised basis, the base dividend represents a yield of about 1.0% based on the 20-day volume-weighted average price as of November 11.
“A recurring quarterly dividend is expected to be the primary method of capital return, and we will periodically evaluate supplementing this dividend from trailing excess attributable free cash flow through incremental dividends and/or share buyback programmes,” said CEO Rod Antal on Thursday, as the group announced strong post-merger quarterly results.
SSR reported attributable net income of $26.8-million, or $0.19 a share, and adjusted attributable net income of $67.8-million, or $0.49 a share, in the September quarter.
Its consolidated cash balance at quarter-end increased to $772.8-million.
SSR reported year-to-date production of 491 821 gold-equivalent ounces (GEOs) across its four operations. For 2020, the group is targeting production of 680 000 to 760 000 GEOs at an all-in sustaining cost of $965/GEO to $1 040/GEO.
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