First Quantum Declares a Final Dividend of CDN$0.005 Per Share
February 16 2021 - 3:17PM
First Quantum Minerals Ltd. ("First Quantum" or the
"Company") (TSX:FM) today announced that its Board of
Directors has approved a final dividend of CDN$0.005 per share in
respect of the financial year ending December 31, 2020. This,
together with the interim dividend of CDN$0.005, makes a total
of CDN$0.01 for the 2020 financial year. The dividend
will be paid on May 6, 2021 to shareholders of record on April 15,
2021.
In recent years the Company has invested heavily
in the construction of Cobre Panama. During this period a policy of
paying only nominal dividends was adopted. With the successful
ramp-up of Cobre Panama and overall higher production, the Company
anticipates stronger future cash flow and expects to be in a
position to support increased dividend payments within the next two
years. Actual distributions will be determined by annual free cash
flow after prioritizing the reduction of the absolute levels of
debt and providing for projected capital expenditure
plans.
The Company has established a Dividend
Reinvestment and Share Purchase Plan (the "Plan") for its Canadian
resident shareholders ("Eligible Shareholders").
The Plan enables Eligible Shareholders to
reinvest the cash dividends paid on all or a portion of their
Common Shares into additional Common Shares, which will be issued
at 97% of the Average Market Price (as defined in the Plan) and
provides the opportunity to make optional cash purchases of
additional Common Shares on a semi-annual basis, on dividend
payment dates.
To participate in the Plan, registered Eligible
Shareholders must deliver a properly completed enrolment form to
Computershare Trust Company of Canada ("Computershare") (in its
capacity as "Plan Agent" under the Plan), as directed under the
Plan, by no later than 4:00 p.m. Eastern time on the fifth business
day immediately preceding a dividend record date in order for the
cash dividend to which such record date relates to be reinvested
under the Plan.
Additional information on the Plan is available
at www.investorcentre.com/first-quantum
The dividends paid are considered eligible
dividends for Canadian tax purposes.
For further information, visit our website at
www.first-quantum.com or contact:
Lisa Doddridge, Director, Investor Relations(416)
361-3400 Toll-free: 1 (888) 688-6577E-Mail: info@fqml.com
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