Make Kitco Your Homepage

Mining News

Abitibi Royalties bumps dividend by 20%

Vladimir Basov

Kitco News

Editor's Note: Get caught up in minutes with our speedy summary of today's must-read news stories and expert opinions that moved the precious metals and financial markets. Sign up here!

Image credit: Abitibi Royalties.

(Kitco News) - Abitibi Royalties (TSXV: RZZ) (OTC: ATBYF) announced Monday that the company's board of directors has approved, effective January 2021, a 20% dividend increase to the company's outstanding common shares from CDN$0.15 to CDN$0.18 per common share on an annualized basis (CDN$0.015 per common share on a monthly basis).

This is the second dividend increase announcement in 2020, representing a 50% increase to the company's dividend from Q1-2020.

According to the company’s statement, “Abitibi Royalties is unique among its peers due to its strong treasury, no debt, monthly dividend, share buyback program and limited number of outstanding shares (less than 12.5 million).”

The increased dividend amount will begin in January 2021.

Abitibi Royalties owns various royalties at the Canadian Malartic gold mine near Val-d'Or, Québec. In addition, the company is building a portfolio of royalties on early stage properties near producing mines and generating mineral projects for option or sale.

By Vladimir Basov

For Kitco News

Contact info@minesandmetals.com
Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.