Dividend

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.

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 May 15, 2012, the Company announced that its Board of Directors declared a dividend of C$0.04 per common share, payable on June 15, 2012 to shareholders of record on May 31, 2012.

The ex-dividend date was May 29, 2012.

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").