Mark Carruthers gave me permission to post the following explanation of the Dividend; and how to estimate the per share amount based on "Net Revenue":
Revenue is defined in note five of the MD&A (page 9). See below and attached.
Using Q3’20’s figure as an example the payout to shareholders would be approximately USD $1,258,000.00 so 1% of Q3’s net revenue. This number is then divisible by the total issued and outstanding (approximately 221,000,000). Based on Q3’s number the dividend would work out to be approximately US $0.005 per share, so roughly US $0.02 per year. Once declared the dividend would be deposited into your account by approximately mid-May. We are contemplating implementing a DRIP, if decided upon we will of course advise the market.
Though small the dividend is a start and has was definitely a priority on Keith’s list of things to do. Being based on revenues also gives shareholders further exposure to rising silver (and gold) prices.
I hope this helps. If you have any further questions please let me know.Thank you for your continued support and all the best over the holiday season. Stay safe.
First Majestic Dividend- "Net Revenues" defined
Mark Carruthers gave me permission to post the following explanation of the Dividend; and how to estimate the per share amount based on "Net Revenue":
A grain of sand in the gearbox of tyranny