AuRico Gold (AUQ) Plans to Initiate Dividend at 16c/Yr.; Yields 2.6%

February 21, 2013 8:23 AM EST
AuRico Gold Inc. (NYSE: AUQ) is pleased to announce that as part of the Company's long-term strategy to maximize shareholder value, the Board of Directors has approved the implementation of a new, two-tiered dividend policy:
  • In 2013, the Company will pay an annual dividend of $0.16 per common share (payable quarterly);
  • In subsequent years, the quarterly dividend will be linked to operating cash flow1 ("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; and
  • The first quarterly dividend ($0.04 per common share) is expected to be declared on March 25, 2013.

Yield on the dividend at $0.16 will be about 2.6 percent.

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