Hecla Increases Silver-linked Dividend and Lowers Silver Trigger
September 08, 2021 at 06:30 AM EDT
Hecla Mining Company (“Hecla”)(NYSE:HL) is pleased to announce that its Board of Directors is adding one cent for the silver-linked dividend starting at a new, lower quarterly average realized silver price of $20. The policy increases the quarterly dividend by 33% at $25 realized silver price threshold.
“Our further enhanced dividend policy reflects Hecla’s strong free cash flow generation from the United States’ largest and lowest cost silver mines that produce more than 40% of all the silver mined in the United States,” said Hecla’s President and Chief Executive Officer, Phillips S. Baker, Jr. “Hecla has consistently paid dividends since 2010 and has enhanced the policy three times in the last 12 months. Hecla’s dividend policy has the industry’s only silver-linked dividend providing sustainable returns to our shareholders and demonstrates our operational and financial discipline. And with the new policy shareholders receive a silver-linked dividend at a lower silver price and get a third more dividends at $25 silver.”
The table below provides an overview of the enhanced silver-linked dividend with a lower silver-linked price threshold.
Visit Hecla’s website at www.hecla-mining.com which includes more in-depth information about the company, our people, our properties, interesting historical and silver facts, social responsibility initiatives and accomplishments, and a detailed investor section.
Founded in 1891, Hecla Mining Company (NYSE:HL) is the largest silver producer in the United States. In addition to operating mines in Alaska, Idaho and Quebec, Canada, the Company owns a number of exploration properties and pre-development projects in world-class silver and gold mining districts throughout North America.
Statements made which are not historical facts, such as strategies, plans, anticipated payments, litigation outcome (including settlement negotiations), production, sales of assets, exploration results and plans, costs, and prices or sales performance are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Words such as “may”, “will”, “should”, “expects”, “intends”, “projects”, “believes”, “estimates”, “targets”, “anticipates” and similar expressions are used to identify these forward-looking statements. Forward-looking statements involve a number of risks and uncertainties that could cause actual results to differ materially from those projected, anticipated, expected, or implied. These risks and uncertainties include, but are not limited to, metals price volatility, volatility of metals production and costs, environmental and litigation risks, operating risks, project development risks, political risks, labor issues, ability to raise financing and exploration risks and results. Refer to the company's Form 10-K and 10-Q reports for a more detailed discussion of factors that may impact expected future results. The company undertakes no obligation and has no intention of updating forward-looking statements other than as may be required by law.
Category: Press Release