(all amounts are in US dollars unless otherwise indicated)
TORONTO, June 11, 2013 /CNW/ - AuRico Gold Inc. (TSX: AUQ) (NYSE: AUQ) ("AuRico Gold" or the "Company") today announced that its Board of
Directors has approved the introduction of a dividend reinvestment
plan, effective immediately. Eligible shareholders may elect to
participate in the dividend reinvestment plan commencing with the July
2013 dividend. Participation in the dividend reinvestment plan is
optional.
Dividend Reinvestment Plan Highlights
The dividend reinvestment plan provides a convenient and cost-effective
way for eligible shareholders to acquire additional common shares of
the Company by reinvesting cash dividends paid on their shareholdings.
A copy of the dividend reinvestment plan is available on the Company's
website at www.auricogold.com/DRIP.
Highlights of the dividend reinvestment plan include:
-
Common shares issued under the dividend reinvestment plan from the
treasury of the Company may be issued at a discount not to exceed 5%
from the average market price of the common shares over the five day
period preceding the relevant dividend payment date as further
described in the dividend reinvestment plan. The current discount has
been set at 5% and shall apply until further notice by press release;
-
Brokerage commissions and administrative costs for the common shares
issued under the dividend reinvestment plan will be borne by the
Company and not the registered shareholder, however beneficial
shareholders may incur fees in respect of services provided by their
nominee; and
-
Common shares distributed under the dividend reinvestment plan will, at
the option of the Company, be purchased by the plan agent from the
treasury of the Company or in the open market on the New York Stock
Exchange, or a combination of both.
Enrollment forms will be mailed to registered shareholders in the coming
days. Enrollment forms will also be made available on the Company's
website at www.auricogold.com/DRIP. Registered shareholders may also enroll in the dividend reinvestment
plan online through the plan agent's self-service web portal at www.investorcentre.com/auricogold. Beneficial shareholders should contact their financial intermediary
to arrange enrollment.
Dividend Summary and Key Dates
In 2013, the Company intends to pay an annual dividend of $0.16 per
common share (payable quarterly) with the initial dividend having been
paid on April 18, 2013. The dividend distributions for the remainder of
2013 are expected to be payable as follows, subject to the approval of
the Board of Directors:
|
Record Date
|
Dividend Payment Date
|
Dividend
(per common share)
|
|
July 15, 2013
|
July 29, 2013
|
$0.04
|
|
October 11, 2013
|
October 29, 2013
|
$0.04
|
|
January 14, 2014
|
January 29, 2014
|
$0.04
|
Beginning in 2014, the quarterly dividend will be linked to operating
cash flow(1) ("OCF"), whereby the Company intends to pay out 20% of the OCF
generated in the preceding quarter, divided by the Company's
outstanding common shares at the time the dividend is approved.
Dividend payments corresponding to the 2014 quarterly financial results
are expected to be paid, subject to the approval of the Board of
Directors, within three to four weeks following the release of the
Company's financial statements. Additional information on the Company's
dividend program is available on the Company's website at www.auricogold.com/dividends.
This press release is not an offer or a solicitation of an offer of
shares in the United States. A registration statement relating to the
dividend reinvestment plan has been filed with the U.S. Securities and
Exchange Commission. A copy of the prospectus included in the
registration statement may be obtained under the Company's profile on
the Securities and Exchange Commission website at www.sec.gov.
|
(1) As reported in the Company's financial statements.
|
About AuRico Gold
AuRico Gold is a leading Canadian gold producer with mines and projects
in North America that have solid production growth and exploration
potential. The Company is focused on its core operations including the
Young-Davidson gold mine in northern Ontario and the El Chanate mine in
Sonora State, Mexico and its project pipeline also includes advanced
development opportunities in Canada and Mexico. AuRico Gold's head
office is located in Toronto, Ontario, Canada.
Cautionary Statement
Certain information included in this press release constitutes
forward-looking statements, including any information as to our
projects, plans and future financial and operating performance, and the
implementation and continued availability of the dividend reinvestment
plan. All statements, other than statements of historical fact, are
forward-looking statements. The words "expect", "believe",
"anticipate", "will", "intend", "estimate", "forecast", "budget",
"schedule" and similar expressions identify forward-looking statements.
Forward-looking statements are necessarily based upon a number of
factors and assumptions that, while considered reasonable by
management, are inherently subject to significant business, economic
and competitive uncertainties and contingencies. Known and unknown
factors could cause actual results to differ materially from those
projected in the forward-looking statements.
Such factors include, but are not limited to: changes to current
estimates of mineral reserves and resources; fluctuations in the price
of gold; changes in foreign exchange rates (particularly the Canadian
dollar, Mexican peso and U.S. dollar); the impact of inflation; changes
in our credit rating; any decision to declare a quarterly dividend;
employee relations; litigation; disruptions affecting operations;
availability of and increased costs associated with mining inputs and
labor; development delays at the Young-Davidson mine; operating or
technical difficulties in connection with mining or development
activities; inherent risks associated with mining and mineral
processing; the risk that the Young-Davidson and El Chanate mines may
not perform as planned; uncertainty with the Company's ability to
secure capital to execute its business plans; the speculative nature of
mineral exploration and development, including the risks of obtaining
necessary licenses and permits; contests over title to properties;
changes in national and local government legislation in Canada, Mexico
and other jurisdictions in which the Company does or may carry on
business in the future; risk of loss due to sabotage and civil
disturbances; the impact of global liquidity and credit availability
and the values of assets and liabilities based on projected future cash
flows; risks arising from holding derivative instruments; and business
opportunities that may be pursued by the Company. Many of these
uncertainties and contingencies can affect our actual results and could
cause actual results to differ materially from those expressed or
implied in any forward-looking statements made by, or on behalf of, us.
Readers are cautioned that forward-looking statements are not
guarantees of future performance. All of the forward-looking statements
made in this press release are qualified by these cautionary
statements. Specific reference is made to the most recent Form
40-F/Annual Information Form on file with the SEC and Canadian
provincial securities regulatory authorities for a discussion of some
of the factors underlying forward-looking statements.
The Company disclaims any intention or obligation to update or revise
any forward-looking statements whether as a result of new information,
future events or otherwise, except as required by applicable law.
For further information please visit the AuRico Gold website at www.auricogold.com or contact: