![](/cdn/assets/images/search/clock.png)
We could not find any results for:
Make sure your spelling is correct or try broadening your search.
Share Name | Share Symbol | Market | Type |
---|---|---|---|
Extorre Gold Mines Ltd. Ordinary Shares (Canada) | AMEX:XG | AMEX | Ordinary Share |
Price Change | % Change | Share Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 0.00 | - |
Recently, gold miner Yamana Gold, Inc. (AUY) has taken some steps to deliver greater value to shareholders. Earlier this week, the company announced that it has entered into an agreement to acquire Extorre Gold Mines Limited (XG), a move aimed to fortify its development pipeline.
In addition, Yamana also decided to pump up its annual dividend to 26 cents a share, an 18% jump from the second quarter’s payout and 117% higher than what it used to pay a year ago.
Shareholders will be entitled to receive the increased dividend, amounting to 6.5 cents per share, from the third quarter this year. The record date for the dividend is yet to be finalized.
This is the fourth time that Yamana has increased its dividend in the last one year based on its commitment to deliver growth and value to shareholders. The company is confident of generating enough cash flows through its operations to meet the increased dividend payouts. Yamana expects that its C1 Santa Luz and Ernesto/Pau-a-Pique projects will soon become productive and further contribute to cash flows.
In addition, the acquisition of Extorre is expected to provide further impetus to cash flows. Yamana is acquiring Extorre at a bargain price, which is just 3% of its market capitalization. This is certainly impressive considering that Extorre is capable of accelerating Yamana’s production by 10%, which will probably lead to higher cash flows.
Yamana, which competes with AngloGold Ashanti Ltd. (AU), Goldcorp Inc. (GG) and Kinross Gold Corporation (KGC), holds a Zacks #3 Rank, reflecting a short-term (1 to 3 months) Hold rating.
1 Year Extorre Gold Mines Ltd. Ordinary Shares (Canada) Chart |
1 Month Extorre Gold Mines Ltd. Ordinary Shares (Canada) Chart |
It looks like you are not logged in. Click the button below to log in and keep track of your recent history.
Support: +44 (0) 203 8794 460 | support@advfn.com
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions