As part of the Company's long-term strategy to maximize shareholder value, Centerra Gold commenced paying an annual dividend in 2010. The inaugural annual dividend of C$0.06 per common share was paid on September 8, 2010. Currently the Company is paying a quarterly dividend of C$0.04 per common share or $0.16 per share annually.
Centerra's Board of Directors will review the amount of the dividend on an annual basis depending upon the Company's cash balances, operating cash flows, anticipated capital requirements for future growth, the yields of comparable companies' dividend rates, and such other considerations as the Board of Directors may consider relevant.
On July 29, 2014, the Company announced that its Board of Directors declared a quarterly dividend of C$0.04 per common share, payable on August 28, 2014 to shareholders of record on August 14, 2014.
The ex-dividend date was August 12, 2014.
Dividends paid by Centerra are designated as eligible dividends for the purpose of the Income Tax Act (Canada), and for relevant Canadian provincial and territorial income tax legislation, unless notice to the contrary with respect to a particular dividend is given.
Currently, Centerra does not have a Dividend Re-Investment Plan ("DRIP").