Canada-based precious metals miner Yamana Gold has rewarded shareholders with a maiden quarterly dividend of $0.0125 a share, in line with its previously announced 25% increase to the company’s yearly dividend.
The gold miner has now increased its yearly dividend cumulatively by 150% to $0.05 a share, from $0.02 a share in the second quarter of last year.
Yamana has adopted a policy of treating dividends on a per-ounce basis and established a programme pursuant to which it would create a reserve fund to protect the dividend for a minimum of three years.