GLOBE NEWSWIRE identifies the date as Dec. 7, 2020 in Vancouver, British Columbia. It is with great pleasure that the Board of Directors of First Majestic (AG: NYSE; FR: TSX) (the “Company” or “First Majestic”) announces that the Company expects to pay quarterly dividends of 1% of net revenues beginning in the first quarter of 2021. At the time each quarterly dividend is issued, the Toronto Stock Exchange mandates that the Company issue a press announcement.
First-time dividend policy announcement is a significant milestone for the company and shows the company’s long-term viability, says CEO Keith Neumeyer. Shareholders will benefit from this new quarterly dividend because the dividend is connected to company revenues. To expand on this initial dividend level, I hope that we will continue to benefit from better profitability in the years to come.”
The Board of Directors will have the final say on dividend payments under the dividend policy. As a result, if the Company’s financial condition, profitability, cash flow, debt covenant compliance, regulatory obligations, and other relevant circumstances change, the dividend policy may be changed at any moment. Because of this, there are no guarantees that future dividends will be paid or announced. Canadian non-resident withholding taxes will be levied on dividends paid to non-Canadian shareholders.
One of the board members has also resigned effective November 30, 2020: Nicole Adshead-Bell. Thank you for your hard work, Nicole, and best wishes for your success in your future endeavors.
As a publicly listed mining company, First Majestic has an emphasis on silver production in Mexico, where it is aggressively pursuing the development of its mineral property assets. The San Dimas Silver/Gold Mine, the Santa Elena Silver/Gold Mine, and the La Encantada Silver Mine are currently owned and operated by the Company. In 2020, these mines are expected to produce between 11.0 and 11.7 million silver ounces, or 21.4 and 22.9 million silver equivalent ounces, in silver production alone.
It is important to note that this press release contains “forward-looking information” and “forward-looking statements” as defined by relevant Canadian and U.S. securities laws. For the purposes of this discussion, we are referring to the timing and amount of dividend payments made by the Company as well as future output. When making assumptions, it is possible that they will turn out to be inaccurate. As a result, there is no assurance of guidance. Due to the uncertainty of future plans, assumptions, and expectations, investors should not place undue reliance on guidance and forward-looking statements. A forward-looking statement is any remark that is not a statement of historical fact. It is not a statement if it expresses or involves discussions about predictions, expectations, beliefs, plans, projections, objectives, or future events and performance (often but not always using words or phrases such as “seek, anticipate,” plan,” continue,” estimate,” expect,” may,” will,” project,” predict,” forecast,” potential,” target,” intend,” could,” might,” should,” believe and similar expressions) or any future events or performance.
As a result of this uncertainty, any forward-looking statements are not to be interpreted as guarantees of future performance, and the Company cautions that these statements should not be relied upon to the fullest extent possible. As of the date of this document, these statements are accurate. These forward-looking statements are not to be updated by the Company unless as required by applicable law.
Is AG a dividend stock?
On August 25, 2021, (AG) will begin trading ex-dividend. On September 16, 2021, shareholders will get a cash dividend of $0.006 per share. Prior to the ex-dividend date, shareholders of AG are entitled to a cash dividend payment. In today’s market, at $12.49 per share, the current dividend yield is.
What does First Majestic Silver Corp do?
Silver and gold production in Mexico and the United States is the primary focus of First Majestic Silver Corp. Jerritt Canyon Gold Mine, Santa Elena Silver/Gold Mine, and La Encantada Silver Mine are all owned and operated by the Company. There are about 71,868 hectares (ha) of mining claims in two Mexican states that make up the San Dimas Silver/Gold Mine: Durango and Sinaloa. This Nevada gold mine in Elko County is known as the Jerritt Canyon Gold Mine. In Sonora, Mexico, the Santa Elena Silver/Gold Mine has an area of 102,244 hectares, around 150 kilometers northeast of the city of Hermosillo. Located in the northern Mexican state of Coahuila, the La Encantada Silver Mine is an underground mine that is approximately 708 kilometers northeast of Torreon. As of this writing, the La Encantada mining concessions cover around 4,076 acres, while the property owned by the company is roughly 1,343.
Where are First Majestic Silver mines located?
The San Dimas Silver/Gold Mine, the Jerritt Canyon Gold Mine, the Santa Elena Silver/Gold Mine, and the La Encantada Silver Mine are all 100% owned by First Majestic.
There are roughly 71,868 hectares of mining claims in the states of Sinaloa and Durango, Mexico, that make up San Dimas Silver/Gold Mine, which is located around 130 kilometers northwest of Durango. With almost 250 years of operation, San Dimas is the largest underground silver mine in Durango, and one of the country’s most notable silver mines. In the San Dimas operational plan, a 2,500 tpd capacity milling facility is used to process ore from a number of underground mining locations to produce silver/gold doré bars. The town of Tayoltita has a private airfield accessible by a 40-minute flight from the Durango International Airport.
Elko County, Nevada is home to the Jerritt Canyon Gold Mine. After being found in 1972, the Jerritt Canyon mine has produced over 9.7 million ounces of gold throughout the course of its 40-year production history. The mine began producing in 1981. In Nevada, the company features one of only three allowed roasting gold processing plants. Due to insufficient ore supply from two underground mines, the processing plant’s 4,000-tpd capacity is now running at 2,500-tpd on average. The property comprises of a 30,821-hectare land package that has yet to be investigated (119 square miles). A number of opportunities have been discovered by First Majestic to improve both the cost and production profile of Jerritt Canyon, including near-term brownfield potential between the SSX and Smith mines and property wide exploration potential.
At 102,244 hectares, the Santa Elena Silver/Gold Mine is Mexico’s largest open-pit mine, located about 150 kilometers northeast of Hermosillo. The 3,000 tpd cyanidation circuit at Santa Elena will handle ore from subterranean sources and the heap leach pad’s previously processed ore. The Ermitao project, which is located just 4 kilometers southeast of the mill, is expected to begin feeding fresh ore in early 2022.
Located in the northern Mexican state of Coahuila, La Encantada Silver Mine is an underground mine that is 708 kilometers northeast of Torreon. There are 4,076 mining concessions and 1,343 hectares of surface land holdings in La Encantada. There is also an operational 4,000-ton-per-day (tpd) plant for cyanidation, a camp with 180 homes and all the necessary facilities for a mining operation. The nearest city, Muzquiz, in Coahuila State, is 225 kilometers away and may be accessed through a two-hour flight from the Durango International Airport to the mine’s private airfield.
Due to expanding industrial and investor demand for silver, management expects investors will reap the benefits of rising silver prices.
As a result, the company is redoubling its efforts to increase output and develop its most important assets.
Innovative R&D and clever accretive merger and acquisition transactions support the company’s expansion and development.
First Majestic’s stockholders are in a position to benefit from the company’s great organic development plans and industry-leading silver exposure thanks to an experienced management team.
To become the world’s largest primary silver producer, we’re a diverse, inclusive, and socially responsible mining company.
Why is First Majestic up?
Second-quarter financial results will be released by First Majestic on August 16. All three of the company’s operating mines are projected to have contributed to a 13 percent increase in silver production. Due to First Majestic’s acquisition of the Jerritt Canyon gold mine in April, First Majestic expects its gold production to increase by 95 percent year over year.
How long do you have to hold a stock to get the dividend?
For dividends to be taxed at the preferred 15% rate, you must hold the shares for a certain amount of time. Within the 121-day window surrounding the ex-dividend date, that minimal term is 61 days. There are 121 days before and after the ex-dividend date.
How much dividend will I get?
You can use the dividend yield formula when a stock’s dividend yield isn’t given as a percentage or if you want to get the most current percentage. Divide the annual dividends paid per share by the share price to get the dividend yield.
For example, if a corporation paid out $5 per share in dividends and its shares currently cost $150, its dividend yield would be 3.33 percent..
- This year’s report. The yearly dividend per share is normally included in the company’s most recent full annual report.
- The last dividend payment. Multiply the most recent quarter’s dividend distribution by four to get the year’s dividend.
- Method of “trailing” dividends. Add the four most recent quarterly payouts to determine the annual dividend for stocks with fluctuating or inconsistent dividends.
It’s important to remember that dividend yield is rarely constant and might fluctuate even further depending on the method used to compute it.
Are dividends paid monthly?
However, some corporations pay their shareholders quarterly or semiannually in the United States. Each dividend must be approved by the board of directors of a corporation. The ex-dividend date, dividend amount, and payment date will then be announced by the corporation.
Can you buy silver directly from a mine?
It is possible to buy silver bullion directly from precious metal merchants, at spot market prices. The benefit of owning silver in physical form is that its value fluctuates in lockstep with the overall silver market. With this method, investors can possibly own the metal, allowing them immediate access to their money. Dealers might charge premiums to buy and sell silver, which can lower profits considerably. Purchasing or renting a safe or safety deposit box may be an additional expense. Additionally, investors who sell real silver face a maximum tax rate of 28 percent.
Silver mining stocks: Silver mining stocks can provide exposure to silver prices in an indirect manner. Due to the high fixed costs of mining silver, these companies’ shares tend to be leveraged plays on silver prices. When compared to real silver, mining stocks are far more easily traded on the open market. Additionally, long-term investors in silver mining companies are eligible for long-term capital gains tax rates of up to 23.8 percent. Investors may be exposed to the idiosyncratic risks associated with owning stock in a specific company, which could be problematic. Investors can mitigate this risk by purchasing an ETF that holds a diverse group of silver mining firms, such as the Global X Silver Miners ETF (SIL).
The futures market is used to trade silver in paper form. If you don’t own the metal, you don’t have to deal with the risk of losing it. Futures markets, unlike the bullion market, allow investors to leverage their positions. Contango15, the situation in which future prices of a commodity are greater than the spot price, is one disadvantage of trading in futures. Even if the spot price of silver rises, this can erode gains over time.
Unlike other metals, silver may be both precious and industrial. When demand for precious metals rises, such as during moments of high volatility, we believe that silver is a valuable portfolio investment since it can possibly appreciate in both circumstances when demand for precious metal rises, such as in eras of strong economic expansion. It is our opinion that silver mining stocks are an excellent long-term investment vehicle because of their leveraged exposure and favorable taxation relative to real silver and futures.
Is First Majestic Silver stock a good buy?
At present prices, First Majestic Silver Corp. has a number of positive signs and is considered a promising investment. Short-term, we believe First Majestic Silver Corp stock will be a terrific performer.
