MONTREAL, QUEBEC--(Marketwire - May 14, 2012) - SEMAFO (TSX:SMF)(OMX:SMF) today announced that the Corporation's Board of Directors has approved a cash dividend of CA $0.02 per common share, payable on July 16, 2012 to shareholders of record at the close of business on June 30, 2012. This is the Corporation's second dividend after declaring its inaugural dividend in November 2011.
"SEMAFO's sustained solid performance and significant cash flows enables us to fully fund our operations and provides us the economic capacity to internally finance value-creation activities," said Benoit La Salle, President and Chief Executive Officer. "Accordingly, the Board of Directors has decided that SEMAFO's strong financial results support the paying of this second dividend."
The amount of future dividend payments will be subject to evaluation and approval by SEMAFO's Board of Directors semi-annually, based on the Corporation's financial condition, capital requirements, growth plans and gold price.
SEMAFO is a Canadian-based mining company with gold production and exploration activities in West Africa. The Corporation currently operates three gold mines: the Mana Mine in Burkina Faso, the Samira Hill Mine in Niger and the Kiniero Mine in Guinea. SEMAFO is committed to evolve in a conscientious manner to become a major player in its geographical area of interest. SEMAFO's strategic focus is to maximize shareholder value by effectively managing its existing assets as well as pursuing organic and strategic growth opportunities.
CAUTION CONCERNING FORWARD-LOOKING STATEMENTS
This press release contains forward-looking statements. Forward-looking statements involve known and unknown risks, uncertainties and assumptions and accordingly, actual results and future events could differ materially from those expressed or implied in such statements. You are hence cautioned not to place undue reliance on forward-looking statements. Forward-looking statements include words or expressions such as "committed", "evolve", "become", "pursuing", "growth", "opportunities" and other similar words or expressions. Factors that could cause future results or events to differ materially from current expectations expressed or implied by the forward-looking statements include the ability to execute on our strategic focus, fluctuation in the price of currencies, gold or operating costs, mining industry risks, uncertainty as to calculation of mineral reserves and resources, delays, political and social stability in Africa (including our ability to maintain or renew licenses and permits) and other risks described in SEMAFO's documents filed with Canadian securities regulatory authorities. You can find further information with respect to these and other risks in SEMAFO's 2011 Annual MD&A and 2011 Annual Information Form and other filings made with Canadian securities regulatory authorities and available at www.sedar.com. These documents are also available on our website at www.semafo.com. SEMAFO disclaims any obligation to update or revise these forward-looking statements, except as required by applicable law.
The above information has been made public in accordance with the Swedish Securities Market Act and/or the Financial Instruments Trading Act.