The board plans to initiate a 3-cent quarterly dividend alongside the release of second-quarter financial results. This annual payout of 12 cents per share offers a 0.4% yield based on the stock's recent closing price of $28.94. The move follows the decision to offload an 80% stake in the Çöpler gold mine to Cengiz Holding, a transaction that provides the firm with significant cash liquidity.
In section Market Quotes
SSR Mining Revives Dividend and Expands Buyback Program
Bolstered by the pending $1.5 billion sale of its Turkish gold assets, SSR Mining is returning capital to investors. The company announced plans to reinstate a quarterly dividend and authorized a substantial $500 million expansion of its stock repurchase program, signaling confidence in its current balance sheet.
Chief Executive Rod Antal described the dual capital allocation strategy as a reflection of the company's disciplined financial management. Beyond the new authorization, the firm continues to execute a previously approved plan to buy back 10% of its outstanding shares. Having already repurchased 9.2 million shares in April, the company retains 12.3 million shares under its existing buyback mandate, further tightening the float as it restructures its portfolio.
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