Canadian miner Yamana Gold has increased its annual dividend by a further 25% to $0.0625 a share on the back of first-quarter results this year.
Yamana noted that this is the third dividend increase announced by it over the past year, representing a cumulative total increase of 213%.
For Q1 2020, Yamana posted net earnings of $45m or $0.05 a share, an improvement over the $4.1m net loss reported a year earlier (Q1 2019).
The companyβs adjusted net earnings came to $47.2m or $0.05 a share, nearly double the $24m or $0.03 a share recorded last year.
Across all its operations, the Canadian minerβs gold production totalled 192,238oz for this quarter, in line with guidance.
According to Yamana, the Jacobina, El PeΓ±Γ³n, and Minera Florida mines all exceeded targets, despite the government-mandated Covid-19 restrictions to operations at both Cerro Moro and Canadian Malartic mines.
Furthermore, the company said it is working with its host communities to support their needs during the Covid-19 pandemic.
In its quarterly result, the company announced that it formed a crisis response group comprising its entire senior executive group and operational leaders in the early phases of the outbreak. This was aimed at ensuring it was in a position to take decisive action in what remains a fluid and fast-moving environment.
Last month, Yamana Gold signed an agreement to sell shares and warrants in Vancouver-headquartered Equinox Gold for C$201m (approximately $144m).
In July last year, the company reported positive results of the pre-feasibility study (PFS) on the Agua Rica project located in the Catamarca Province of Argentina.
