https://www.juniorminingnetwork.com/junior-miner-news/press-releases/763-tsx/yri/76362-yamana-gold-reports-strong-first-quarter-production-and-cash-flows-increases-earnings-and-further-reduces-net-debt-raises-annual-dividend-by-a-further-25.html

FIRST QUARTER HIGHLIGHTS

Strong Net Earnings and Cash Flow, Further Reduction in Net Debt

  • Net earnings of $45.0 million or $0.05 per share basic and diluted compared to a net loss of $4.1 million or  nil per share basic and diluted a year earlier.(1)
  • Adjusted net earnings(1) of $47.2 million or $0.05 per share basic and diluted compared to adjusted net earnings of $24.0 million or $0.03 per share basic and diluted a year earlier.
  • Strong quarterly cash flows from operating activities of $129.4 million, and cash flow from operating activities before net change in working capital of $164.6 million.
  • Cash flows were all in line with or exceeded the average of the past four quarters, and exceeded all comparable cash flows in the first quarter of 2019.
  • Net free cash flow(2) of $91.1 million exceeded the average of the past four quarters by 14%, following exceptional operational performances in the first quarter, despite the challenges stemming from the pandemic.
  • Net debt(3) decreased by $20.0 million in the quarter due to the positive cash flow from operations. As of March 31, 2020, net debt(3) was $869.1 million.
  • Annual Dividend Increased by a Further 25%
    • Subsequent to quarter end, the Company increased its annual dividend by a further 25% to $0.0625 per share.
    • This represents the third dividend increase announced by the Company in the past year, for a cumulative total increase of 213%.