Abitibi Royalties Increases Dividend by 20%
Val-d'Or, Quebec--(Newsfile Corp. - December 7, 2020) - Abitibi Royalties Inc. (TSXV: RZZ) (OTC: ATBYF) "Abitibi Royalties" or the "Company") announces that the Company's board of directors has approved, effective January 2021, a 20% dividend increase to the Company's outstanding common shares from CDN$0.15 to CDN$0.18 per common share on an annualized basis (CDN$0.015 per common share on a monthly basis). This is the second dividend increase announcement in 2020, representing a 50% increase to the Company's dividend from Q1-2020. The Company is unique among its peers due to its strong treasury, no debt, monthly dividend, share buyback program and limited number of outstanding shares (less than 12.5 million).
The increased dividend amount will begin in January 2021. Table 1. below sets out the record and payment dates for shareholders for Q1-2021.
Table. 1
Q1 2021 Dividend Schedule
| Record Date | Payment Date | Payment Amount ($CDN) |
| January 5, 2021 | January 29, 2021 | $0.015 per share |
| February 5, 2021 | February 26, 2021 | $0.015 per share |
| March 5, 2021 | March 31, 2021 | $0.015 per share |
The March 2021 payment will represent the 15th dividend payment made to shareholders since the Company's adoption of a dividend policy in September 2019. The full amount of the dividends will be designated as an "eligible dividend" as defined in the Income Tax Act (Canada).
About Abitibi Royalties
Abitibi Royalties owns various royalties at the Canadian Malartic Mine near Val-d'Or, Québec. In addition, the Company is building a portfolio of royalties on early stage properties near producing mines and generating mineral projects for option or sale. The Company is unique among its peers due to its strong treasury, no debt, monthly dividend, share buyback program and limited number of shares.
For additional information, please contact:
Shanda Kilborn - Director, Corporate Development
2864 chemin Sullivan
Val-d'Or, Québec J9P 0B9
Tel.: 1-888-392-3857
Email: info@abitibiroyalties.com
Forward Looking Statements:
This news release contains certain statements that may be deemed "forward-looking statements". Forward looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or realities may differ materially from those in forward looking statements. Forward looking statements are based on the beliefs, estimates and opinions of the Company's management on the date the statements are made. Except as required by law, the Company undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/69633