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Centerra Gold to pay dividends to Kyrgyzstan first time since 2016

Centerra Gold Inc. (the share of Kyrgyzstan is 26.4 percent) announced payment of dividends for the first time since the second half of 2016. Website of Kyrgyzaltyn OJSC says.

It is noted that dividends will amount to 0.04 Canadian dollars per common share. The total amount of dividends is 11.75 million Canadian dollars, or $ 8.2 million at the current exchange rate.

Kyrgyzstan, as the holder of 77.4 million shares of Centerra Gold, should receive about $ 2.2 million.

«The dividends will be paid on April 22 to shareholders of record on April 7, 2020. Centerra continues to monitor closely and proactively the evolving situation relating to COVID-19 and how it may affect the company’s business. The company notes that going forward, in addition to the other factors that the Board of Directors normally considers in connection with the declaration of dividends, it will also need to carefully consider whether, and the extent to which, developments relating to COVID-19 may affect its dividend program,» the statement says.

In accordance with Centerra’s dividend policy, the timing and quantum of dividends are to be determined by the Board of Directors from time to time based on, among other things, the company’s operating results, cash flow and financial conditions, Centerra’s current and anticipated capital requirements, and general business conditions.