Nasdaq- and TSX-listed Pan American Silver has had a strong 2019, during which it generated $282-million in operational cash flow, allowing for $60-million in debt to be retired, a shareholder payout of about $29-million, investment in new projects and an improved cash position.
The miner bolstered its quarterly dividend by 43%, with the board having approved an increase in the cash dividend from $0.035 to $0.05 a share, for about $10.5-million in aggregate cash dividends, payable on March 12.
During the fourth quarter, Pan American Silver generated its most-ever cash from operating activities of $129.5-million.
The miner generated $404.4-million in revenue in the fourth quarter – a 130% improvement on a year earlier – and $1.35-billion in the full year, which was 70% higher than that in 2018.
Net earnings for the quarter were $51.7-million, compared with a $63.58-million year-earlier loss, and for the 12 months, it was $111.2-million, up from $12.04-million. Adjusted net earnings were $68.9-million and $158-million, respectively.
Pan American Silver increased silver production from 24.8-million ounces to 25.9-million ounces and gold production from 178 900 oz to 559 200 oz of gold in 2019, at an all-in sustaining cost of $10.46/oz in the silver segment and $948/oz in the gold segment.