AuRico Gold Initiates Dividend Policy

The Canadian precious metals company is to start paying out to shareholders.

Eric Volkman
Eric Volkman
Feb 21, 2013 at 10:22PM
Energy, Materials, and Utilities

AuRico Gold (UNKNOWN:AUQ.DL) has announced it will start paying out a portion of its earnings in the form of shareholder dividends. For 2013, the company will disburse an annual dividend of $0.16, payable quarterly. Following that, the company aims to distribute 20% of each quarter's operating cash flow, to be calculated at the time the relevant payout is approved.

AuRico Gold plans to declare the first of those dividends on March 25. That $0.16 annual rate yields 2.5% on the company's current share price of $6.51. Its stock closed up $0.30, or 5%, following the news of the dividend introduction.