(All amounts are in U.S. dollars unless otherwise indicated)
TORONTO, Sept. 17, 2013 /CNW/ - AuRico Gold Inc. (TSX: AUQ) (NYSE: AUQ), ("AuRico" or the "Company") today announced that its Board of Directors
has declared the Company's dividend payment of $0.04 per share for the
third quarter ending September 30, 2013, payable on October 29, 2013 to
shareholders of record at the close of business on October 11, 2013.
AuRico Dividend Policy
As previously announced on February 21, 2013, AuRico's Board of
Directors approved a dividend policy as described below:
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In 2013, the Company intends to pay an annual dividend of $0.16 per
common share (payable quarterly); and
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In subsequent years, 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.
(1) As reported in the Company's financial statements.
Dividend Reinvestment Plan
As previously announced on June 11, 2013, AuRico's Board of Directors
approved the introduction of a dividend reinvestment plan. Eligible
shareholders may elect to participate in the dividend reinvestment
plan. Participation in the dividend reinvestment plan is optional.
For further information on the Company's dividend reinvestment plan
please visit www.auricogold.com/DRIP.
About AuRico Gold
AuRico Gold is a leading Canadian gold producer with mines and projects
in North America that have significant 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. AuRico's project pipeline also
includes advanced development opportunities in Mexico and Canada.
AuRico's head office is located in Toronto, Ontario, Canada.
Cautionary Statement
This press release contains forward-looking statements and
forward-looking information as defined under Canadian and U.S.
securities laws. All statements, other than statements of historical
fact, are forward-looking statements. The words "expect", "believe",
"anticipate", "will", "intend", "estimate", "forecast", "budget" and
similar expressions identify forward-looking statements.
Forward-looking statements include information as to strategy, plans or
future financial or operating performance, such as the Company's
expansion plans, project timelines, production plans, projected cash
flows or capital expenditures, cost estimates, projected exploration
results, reserve and resource estimates and other statements that
express management's expectations or estimates of future performance.
Forward-looking statements are necessarily based upon a number of
factors and assumptions that, while considered reasonable by
management, are inherently subject to significant 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: uncertainty of production and cost
estimates; fluctuations in the price of gold and foreign exchange
rates; the uncertainty of replacing depleted reserves; the risk that
the Young-Davidson and El Chanate mine may not perform as planned; the
risk that projects will not be developed accordingly to established
budgets or timelines; changes in laws or regulations in Canada, Mexico
and other jurisdictions in which the Company may carry on business;
risks of obtaining necessary licenses, permits, authorizations or
approvals for operations or projects such as Kemess; contests over
title to properties; the speculative nature of mineral exploration and
development; risks related to aboriginal title claims; compliance risks
with respect to current and future environmental regulations;
disruptions affecting operations; opportunities that may be pursued by
the Company; employee relations; availability and costs of mining
inputs and labor; the ability to secure capital to execute business
plans; volatility of the Company's share price; any decision to declare
dividends; the implementation and continued availability of the
dividend reinvestment plan; the effect of future financings;
litigation; risk of loss due to sabotage and civil disturbances; the
values of assets and liabilities based on projected future cash flows;
risks arising from holding derivative instruments; risks arising from
the absence of hedging; adequacy of internal control over financial
reporting; changes in our credit rating; and the impact of inflation.
Actual results and developments are likely to differ, and may differ
materially, from those expressed or implied by the forward-looking
statements contained herein. Such statements are based on a number of
assumptions which may prove to be incorrect, including assumptions
about: business and economic conditions; commodity prices and the price
of key inputs such as labour, fuel and electricity; credit market
conditions and conditions in financial markets generally; revenue and
cash flow estimates, production levels, development schedules and the
associated costs; our ability to procure equipment and supplies in
sufficient quantities and on a timely basis; the timing of the receipt
of permits and other approvals for our projects and operations; our
ability to attract and retain skilled employees and contractors for our
operations; the accuracy of our reserve and resource estimates; the
impact of changes in currency exchange rates on our costs and results;
interest rates; taxation; and our ongoing relations with our employees
and business partners. 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.
SOURCE AuRico Gold Inc.