Alamos Gold Inc. announced a 43-per-cent increase in its semi-annual dividend Wednesday as the Canadian-based miner with operations in Mexico and Turkey reported record fourth-quarter earnings.
Alamos said net income in the three months ended Dec. 31 was $21.3-million (U.S.) or 18 cents per share, up 16 per cent from $18.3-million or 16 cents per share in the same prior-year period.
Earnings from mine operations were $44.4-million, up from $36.8-million in the 2010 period.
On a full-year basis, profit was $60.1-million or 51 cents per share on earnings from mine operations of $138.9-million, compared with profit of $63.8-million or 55 cents on mine operations earnings of $113.1-million in 2010.
Alamos Gold said the increase in its semi-annual dividend to 10 cents per share from seven cents is payable April 30 to shareholders of record as of the close of business April 13.
Based on Wednesday’s closing stock price of $19.95 on the Toronto Stock Exchange, that would produce an annual yield of 1 per cent.
The company said it produced 46,500 ounces of gold at a cash operating cost of US$387 an ounce of gold sold, with total cash costs inclusive of royalties of $471 per ounce.