Yamana Gold hikes dividend by 50% before listing on London Stock Exchange

Raises production forecast for 2020

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Canadian miner Yamana Gold on Thursday said it was hiking its dividend by 50 per cent to $0.105 as it raised its production guidance for 2020 and that its planned secondary listing on the London Stock Exchange will be on Oct. 13.

Yamana, which mines gold and silver in Argentina, Brazil, Canada and Chile, said it aims to produce 915,000 gold equivalent ounces in 2020, up 3 per cent from its previous guidance of 890,000 gold equivalent ounces.

It is among several Canadian gold miners to plan secondary listings in London as soaring gold prices draw generalist investors into the sector, and to plug a gap in the London market.

The company said it has received approval of admission to the LSE, and expects the shares to start trading at 0800 BST on Oct. 13 under the ticker “LSE:AUY”.

“We feel that our London listing is well-timed and we look forward to continuing to introduce ourselves to members of this financial community,” said founder and executive chairman Peter Marrone.

? Thomson Reuters 2020

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