Yahoo Finance InvestmentPitch Media Video Discusses Dynacor Group’s Increase of its Monthly Dividend by 20%, Current Yield now 4.27%
VANCOUVER, British Columbia, Dec. 15, 2022 (GLOBE NEWSWIRE) -- Montreal-based Dynacor Group Inc (TSX:DNG), a dividend-paying international industrial gold ore processor, has increased its monthly dividend by 20%. The new dividend of $0.01 paid monthly, or $0.12 a share on an annual basis, represents a yield of 4.27%, based on today’s price of $2.81, and marks the 4th dividend increase since the company paid its initial dividend in October 2018.
Jean Martineau, President and CEO, stated: "Dynacor is committed to returning cash to its shareholders and maintaining a strong financial position. The company has raised the dividend four times in four years, proving management’s confidence in Dynacor's ability to generate robust earnings and increased cash flows. Today's announcement reflects our commitment to our shareholders and demonstrates Dynacor's stability and growth potential as we advance."
A Media Snippet accompanying this announcement is available by clicking on the image or link below:
For more information, please view the InvestmentPitch Media video which provides additional information about this news and the company. The video is available for viewing on “InvestmentPitch” and on “YouTube”. If these links are not enabled, please visit www.InvestmentPitch.com and enter “Dynacor” in the search box.
Dynacor purchases ore from artisanal and small-scale miners which it processes at its Veta Dorada processing plant which is strategically located fifteen minutes off the Pan American Highway near Chala in southern Peru. The company recently increased the plant’s gold ore-processing capacity to 500 tonnes per day, an additional 16% following the 25% increase completed in mid-2021. The Veta Dorada plant has been steadily increasing its daily output over the last number of years, allowing Dynacor, through its Peruvian subsidiary, to become the ninth largest gold exporter in Peru for the first nine months of 2022.
The company owns 100% of the advanced stage Tumipampa gold exploration property in south central Peru’s Apurimac department. It also intends to expand its processing operations in other jurisdictions.
Dynacor, a founding partner in the PX IMPACT® gold program, produces environmental and socially responsible gold. A growing number of supportive firms from the fine luxury jewelry, watchmakers and investment sectors pay a small premium for this gold which provides direct investment to develop health and education projects for the artisanal and small-scale miner’s communities.
Jim Marrone, equity analyst at Singular research reiterated his buy recommendation, giving Dynacor a target price of US$3.50, a premium of 84% above the US$1.90 price on November 21, 2022, the date he issued his report. In his report, he stated: “With this expansion and production capability, Dynacor is well-positioned for continued growth in the ASM ore-processing business through 2022 and beyond.”
The shares are currently trading at CDN$2.81 on the Toronto Stock Exchange, with 38.5 million shares outstanding. For more information, please visit the company’s website www.dynacor.com, or contact the company at 514-393-9000 ext 230 or by email at investors@dynacor.com.
About InvestmentPitch Media
InvestmentPitch Media leverages the power of video, which together with its extensive distribution, positions a company’s story ahead of the 1,000's of companies seeking awareness and funding from the financial community. The company specializes in producing short videos based on significant news releases, research reports and other content of interest to investors.
Disclaimer
The information in this InvestmentPitch Media Ltd video is for the viewers information only. Dynacor Gold Mines has paid a fee not exceeding $2,000 in cash to have its current news release produced in video format. The corporate information is based on information that is publicly available. Any information provided by InvestmentPitch Media Ltd, through its media services is not to be construed as a recommendation or suggestion or offer to buy or sell securities but is provided solely as an informational media service. InvestmentPitch Media Ltd makes no warranties or undertakings as to the accuracy or completeness of this information. All due diligence should be done by the viewer or their financial advisor. Investing in securities is speculative and carries risk.
CONTACT:
InvestmentPitch Media
Barry Morgan, CFO
bmorgan@investmentpitch.com
