Equinox Gold boosted its dividend 50% to $0.09 annualized, with a $0.0225 quarterly payout due Sept. 2. The increase reflects a strong cash position for the miner.
Alpha Score of 65 reflects moderate overall profile with moderate momentum, strong value, weak quality, moderate sentiment.
Equinox Gold Corp. raised its cash dividend 50% to $0.09 a share on an annualized basis, the Vancouver-based miner said Wednesday.
The company declared a quarterly payout of $0.0225 a share, payable Sept. 2 to holders of record Aug. 19. The dividend qualifies as an “eligible dividend” under Canadian tax rules, Equinox Gold said.
Future payments remain at the board’s discretion, dependent on financial results, capital spending, debt covenants and other factors, the company added in a press release.
The increase comes as EQX, which mines gold in the Americas, works through its production pipeline. The miner carries an Alpha Score of 51 out of 100 from AlphaScala, a mixed reading that reflects balanced fundamentals in the basic materials sector.
The dividend announcement did not include updated production or cost guidance. Equinox Gold’s board reviews the policy on an ongoing basis and may adjust it at any time.
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