The Board of Directors of Centerra Gold Inc. approved payment of dividends to shareholders based on the results of work in the third quarter of 2021. The company’s website says.
The payments were approved at C$ 0.07 per common share. In total, the company plans to spend approximately 20.8 million Canadian dollars, or $16.4 million, on their payment. The quarterly dividend is payable on December 3, 2021 to shareholders of record on November 19, 2021.
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 the Kumtor mine and / or COVID-19 affect its dividend program.
Kyrgyzstan holds 26 percent of the company’s shares, but it will not receive dividends. In May, Centerra announced restrictions on shares held by Kyrgyzaltyn. Dividends or distributions on Centerra shares that would otherwise be payable to Kyrgyzaltyn or its affiliates will be donated to the company to the extent such dividends or distributions can be attributed reasonably to Kumtor Gold Company.