(All amounts are in U.S. dollars unless otherwise indicated)
TORONTO, July 3, 2013 /CNW/ - AuRico Gold Inc. (TSX: AUQ) (NYSE: AUQ), ("AuRico" or the "Company") today announced that its Board of Directors
has declared the Company's dividend payment of $0.04 per share for the
second quarter ended June 30, 2013, payable on July 29, 2013 to
shareholders of record at the close of business on July 15, 2013.
AuRico Dividend Policy
As previously announced on February 21, 2013, AuRico's Board of
Directors approved a dividend policy as described below:
In 2013, the Company intends to pay an annual dividend of $0.16 per
common share (payable quarterly); and
In subsequent years, the quarterly dividend will be linked to operating
cash flow(1) ("OCF"), whereby the Company intends to pay out 20% of the OCF
generated in the preceding quarter divided by the Company's outstanding
common shares at the time the dividend is approved.
(1) As reported in the Company's financial statements.
Dividend Reinvestment Plan
As previously announced on June 11, 2013, AuRico's Board of Directors
approved the introduction of a dividend reinvestment plan. Eligible
shareholders may elect to participate in the dividend reinvestment plan
commencing with the July 2013 dividend. Participation in the dividend
reinvestment plan is optional.
For further information on the Company's dividend reinvestment plan
please visit www.auricogold.com/DRIP.
About AuRico Gold
AuRico Gold is a leading Canadian gold producer with mines and projects
in North America that have significant production growth and
exploration potential. The Company is focused on its core operations
including the Young-Davidson gold mine in northern Ontario, which
declared commercial production on September 1, 2012 and the El Chanate
mine in Sonora State, Mexico. AuRico's project pipeline also includes
advanced development opportunities in Mexico and Canada. AuRico's head
office is located in Toronto, Ontario, Canada.
Certain information included in this press release constitutes
forward-looking statements, including any information as to our
projects, plans and future financial and operating performance, and the
implementation and continued availability of the dividend reinvestment
plan. All statements, other than statements of historical fact, are
forward-looking statements. The words "expect", "believe",
"anticipate", "will", "intend", "estimate", "forecast", "budget",
"schedule" and similar expressions identify forward-looking statements.
Forward-looking statements are necessarily based upon a number of
factors and assumptions that, while considered reasonable by
management, are inherently subject to significant business, economic
and competitive uncertainties and contingencies. Known and unknown
factors could cause actual results to differ materially from those
projected in the forward-looking statements. Such factors include, but
are not limited to: changes to current estimates of mineral reserves
and resources; fluctuations in the price of gold; changes in foreign
exchange rates (particularly the Canadian dollar, Mexican peso and U.S.
dollar); the impact of inflation; changes in our credit rating; any
decision to declare a quarterly dividend; employee relations;
litigation; disruptions affecting operations; availability of and
increased costs associated with mining inputs and labor; development
delays at the Young-Davidson mine; operating or technical difficulties
in connection with mining or development activities; inherent risks
associated with mining and mineral processing; the risk that the
Young-Davidson and El Chanate mines may not perform as planned;
uncertainty with the Company's ability to secure capital to execute its
business plans; the speculative nature of mineral exploration and
development, including the risks of obtaining necessary licenses and
permits; contests over title to properties; changes in national and
local government legislation in Canada, Mexico and other jurisdictions
in which the Company does or may carry on business in the future; risk
of loss due to sabotage and civil disturbances; the impact of global
liquidity and credit availability and the values of assets and
liabilities based on projected future cash flows; risks arising from
holding derivative instruments; and business opportunities that may be
pursued by the Company. Many of these uncertainties and contingencies
can affect our actual results and could cause actual results to differ
materially from those expressed or implied in any forward-looking
statements made by, or on behalf of, us. Readers are cautioned that
forward-looking statements are not guarantees of future performance.
All of the forward-looking statements made in this press release are
qualified by these cautionary statements. Specific reference is made to
the most recent Form 40-F/Annual Information Form on file with the SEC
and Canadian provincial securities regulatory authorities for a
discussion of some of the factors underlying forward-looking
statements. The Company disclaims any intention or obligation to update
or revise any forward-looking statements whether as a result of new
information, future events or otherwise, except as required by
SOURCE: AuRico Gold Inc.
For further information:
For further information please visit the AuRico Gold website at www.auricogold.com or contact:
President & Chief Executive Officer
AuRico Gold Inc.
Vice President, Investor Relations & Communications
AuRico Gold Inc.