Industria
Lundin Mining Announces New Shareholder Distribution Policy
Jack Lundin , President and CEO commented "Returning capital to shareholders remains a fundamental element to Lundin Mining's strategy and an important component to our business. In 2017, the Company initiated our first ever dividend payment, which has since evolved over the course of the past eight years to include regular and special dividends, as well as periodic share buybacks. Through these means of dividends and buybacks, the Company has returned over $1.4 billion to shareholders. We remain in a strong financial position to sustain approximately $220 million in annual shareholder returns through a formal strategy that now integrates share buybacks alongside dividends, thereby enhancing the financial and operational metrics on a per-share basis."
Since the inception of our dividend in 2017, Lundin Mining has maintained a peer-leading shareholder distribution framework, returning $1.2 billion in dividends and $227 million in share buybacks. Year-to-date, the Company has acquired approximately $70 million in common shares, amounting to 8.0 million shares for cancelation.
Management and the Board of Directors have completed a strategic review of the dividend policy and approved an amendment to the quarterly dividend from C$0.09 per common share ( C$0.36 per common share on an annualized basis) to a quarterly dividend of C$0.0275 per common share ( C$0.11 per common share on an annualized basis) and have eliminated the performance dividend which stipulated that the minimum dividend payout should equal 40% of attributable operating cash flow after capital expenditures and contingent payments.
The revised quarterly dividend of C$0.0275 per common share is expected to be declared for Q1 2025 with payment in June 2025 .
The Company is committed to distributing approximately $220 million annually in shareholder returns. If total share buybacks and the annual cash dividend of C$0.11 per common share falls short of this amount, a special dividend will be issued to ensure that a total shareholder distribution of approximately $220 million per year is met.
The dividend policy of the Company will undergo periodic review by the Board of Directors and payment of any future dividends will be at the discretion of the Board of Directors and is subject to change from time to time depending on many factors, including the earnings of the Company, its financial requirements and other existing factors.
On December 11, 2024 the Toronto Stock Exchange approved the Company's NCIB which allows the Company to purchase up to 57,597,388 common shares over a twelve month period. Since the NCIB program was approved on December 11, 2024 , the Company has acquired 11,244,712 common shares (approximately $94 million ) in the market for cancelation at an average price of C$12.21 per share.
See press release entitled "Lundin Mining Announces TSX Approval for a Normal Course Issuer Bid" for further details.
Lundin Mining is a diversified Canadian base metals mining company with operations or projects in Argentina , Brazil , Chile , and the United States of America , primarily producing copper, gold and nickel.
The information in this release is subject to the disclosure requirements of Lundin Mining under the Swedish Financial Instruments Trading Act. The information was submitted for publication, through the agency of the contact persons set out below on March 26, 2025 at 20:30 Pacific Time .
For further information, please contact: Stephen Williams , Vice President, Investor Relations +1 604 806 3074, OR Robert Eriksson, Investor Relations Sweden: +46 8 440 54 40
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