Announcement • 13h
Dynacor Group Inc. Announces Board and Committee Changes, Effective June 25, 2026 Dynacor Group Inc. announced that its newly constituted Board of Directors had appointed Réjean Gourde as Chair, effective June 25, 2026. Mr. Gourde succeeded Pierre Lépine who did not stand for re-election at the recent Annual Shareholder Meeting after 12 years of dedicated service and leadership. As chair of Dynacor, Mr. Gourde drew from his eight-year experience on the Dynacor board, most recently as Chair of the Governance, Nomination and Compensation Committee and as a member of the Audit and Risk Management Committee. His public company board expertise, alongside his over 40-year track record in mining operations, corporate development, and management of intermediate gold producers in Africa and South America, positioned him to maintain strong oversight and corporate governance at Dynacor. Gourde was President and Chief Executive Officer of Reunion Gold Corporation until his retirement in 2021. Prior to Reunion Gold, Mr. Gourde had a successful consulting career in the mining industry, advising IAMGOLD’s Essakane and Bomboré projects in West Africa, and other projects in Guyana and Peru. His over four decades of experience in the mining industry included senior executive roles at Cambior Inc. (now IAMGOLD) where he was responsible for the safe operation of Omai Gold Mines in Guyana, Rosebel Gold Mines in Suriname and other projects in the Guiana Shield. Gourde joined Cambior following executive and technical leadership positions with Falconbridge Copper and Ressources Aiguebelle. Gourde holds a degree in mine engineering from Polytechnique Montreal and is a registered Professional Engineer in Quebec. Previously, he served on the boards of G Mining Ventures, Radisson Mining Resources and Reunion Gold Corporation. Following Mr. Gourde’s appointment, the Corporation’s board committees were as follows: Governance, Nomination and Compensation Committee - Rocio Rodriguez-Perrot (chair), Hélène Kyriakakis and Pierre Béliveau. Audit and Risk Management Committee - Pierre Béliveau (chair), Rocio Rodriguez-Perrot and Cyril Gradis. Environment and Social Responsibility Committee - Isabel Rocha (chair) and Jean Martineau. IT and R&D Committee - Hélène Kyriakakis (chair), Philippe Chave and Cyril Gradis. Announcement • Jun 25
Dynacor Group Inc. Approves Monthly Dividend for July 2026, Payable on July 17, 2026 Dynacor Group Inc. announced that its Board of Directors has approved a monthly dividend of CAD 0.01333 per common share (CAD 0.16 annually) for July 2026. This will be payable on July 17, 2026, to shareholders of record as of the close of business on July 9, 2026. The Corporation’s monthly dividend qualifies as an “eligible dividend” for Canadian income tax purposes. The payment and increase of dividends are at the discretion of the Board and will depend on the Corporation’s financial results, cash requirements, prospects and other factors deemed relevant by the Board. Announcement • Jun 24
iolite Partners Ltd. Reaffirms Commitment to Board Reform and Accountability at Dynacor Group Inc. Following AGM On June 23, 2026, iolite Partners Ltd., announced that it launched campaign targeting Dynacor’s board and management, citing concerns over governance, disclosure, and board entrenchment. At the June 19, 2026 AGM, iolite presented motions for appointing an independent Chair, commissioning an independent governance review, and conducting a forensic operational review, all of which were dismissed by the Chair. Despite these setbacks, iolite exposed critical issues to the shareholders, including undisclosed leadership changes, operational turmoil, and questionable capital raises. The company’s procedural and disclosure failings, such as delayed shareholder list delivery and a virtual-only meeting format, further underscored iolite’s demands for transparency and accountability. Following the AGM, iolite reaffirmed its commitment to pursue every available legal, regulatory, and governance remedy to protect and enhance. Announcement • Jun 03
Dynacor Group Inc. Announces Retirement of Jean Martineau as President Dynacor Group Inc. announced that Jean Martineau, who has announced his intention to transition from the role of President and CEO as he approaches retirement. Board composition decisions should not be misconstrued as a change to executive appointments. The Board determined not to nominate Mr. Misiano for election as a director at the Meeting in order to maintain an appropriate balance of skills, independence and continuity during a period of management transition. Declared Dividend • May 31
Dividend of CA$0.013 announced Shareholders will receive a dividend of CA$0.013. Ex-date: 9th June 2026 Payment date: 17th June 2026 Dividend yield will be 2.8%, which is lower than the industry average of 4.8%. Sustainability & Growth Dividend is covered by earnings (21% earnings payout ratio) but the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has increased by an average of 18% per year over the past 8 years. However, payments have been volatile during that time. EPS is expected to grow by 11% over the next year, which should provide support to the dividend and adequate earnings cover. Announcement • May 22
Dynacor Group Inc. Announces Board Changes Dynacor Group Inc. announced upcoming changes to its Board of Directors. Ms. Hélène Kyriakakis will stand for election as a new independent director at the annual general meeting of shareholders in June 2026. Mr. Pierre Lépine, who is a member of the board since 2014 and has served as Chair of the Board for nine years, has completed his term of office and will not seek re-election at the annual general meeting. Hélène Kyriakakis is an accomplished information technology executive with over 35 years of experience aligning integrated management systems (ERP) with business transformation for clients across multiple sectors. She excels in leading large-scale projects in business process improvement and ERP implementation. Her career history includes over 20 years’ technology leadership within blue-chip international companies such as Accenture, PwC, and IBM. Since 2023, Hélène serves as CEO of Talan Americas, setting the strategic direction and guiding its international expansion. Ms. Kyriakakis served as President of Createch Group, a division of Bell Canada, prior to its acquisition by Talan Group, having held progressively senior roles within the consultancy firm since joining in 2011. Prior to Createch, she held a series of senior management roles at IBM Corporation, including heading up its Canadian ERP outsourcing division. Board Change • May 20
Insufficient new directors There is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 3 experienced directors. 4 highly experienced directors. Independent Director Pierre Beliveau was the last director to join the board, commencing their role in 2024. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Announcement • May 04
Dynacor Group Inc. to Report Q1, 2026 Results on May 14, 2026 Dynacor Group Inc. announced that they will report Q1, 2026 results at 9:30 AM, US Eastern Standard Time on May 14, 2026 Announcement • Apr 14
Dynacor Group Inc., Annual General Meeting, Jun 19, 2026 Dynacor Group Inc., Annual General Meeting, Jun 19, 2026. Announcement • Apr 10
Dynacor Group Inc. Announces Management Changes Dynacor Group Inc. announced that Jean Martineau, who has served as President since 2007 will retire from the Corporation immediately following the June 2026 Annual Shareholder Meeting (“AGM”). As part of the Corporation’s succession planning, Daniel Misiano, who has served as the COO since 2024, will assume the role of President at that time. Mr. Martineau will stand for election to the Dynacor Board of Directors (“Board”) at the AGM. Daniel Misiano joined Dynacor as COO in November 2024 and is an accomplished mining services executive with over 35 years of experience, having worked in Latin America, Africa, Canada and Europe. Throughout his career, he has consistently delivered measurable success in leading global businesses within the mining services industries including ten years with Atlas Copco. Since joining Dynacor, Misiano has provided leadership of all areas of business management including operational excellence, strategic planning, expansion projects, corporate development, and reorganisation initiatives. Announcement • Mar 24
Dynacor Group Inc. Announces April 2026 Dividend, Payable on April 17, 2026 Dynacor Group Inc. announced that its Board of Directors has approved a monthly dividend of CAD 0.01333 per common share (CAD 0.16 annually) for April 2026. This will be payable on April 17, 2026, to shareholders of record as of the close of business on April 9, 2026. Announcement • Mar 11
Dynacor Group Inc. Provides Progress Update on Construction and Upgrade Activities At Its Senegal and Ecuador Plants Dynacor Group Inc. provided a progress update on construction and upgrade activities at its Senegal and Ecuador plants. Both plants are on track to process first ore in 2026. Senegal – Site work and shipments continue on schedule for first ore in Second Quarter 2026. Ecuador – Integration continues with major plant contracts awarded. First ore in Fourth Quarter 2026. Ghana – Discussions with Ghana’s GoldBod are advancing. Work on the pilot plant is advancing on schedule with site work continuing in tandem with shipments on site. Deliveries of the modular plant made so far on site include the Merrill Crowe circuit, jaw crusher, leaching tanks, offices and laboratory. All remaining equipment is either in Dakar or in transit to it. Site preparations to host the plant are progressing to plan. Work includes the concrete foundation pour, tailings pond cells, fencing and the access road. The water borehole to supply the plant has been completed. Building on its multi-year discussions with key players, the Corporation is in pricing discussions with local artisanal sites to supply the small ore feedstock needed for the pilot plant. Processing of first ore remains on track for Second Quarter 2026. In parallel, Dynacor has been building visibility in the immediate communities through small, initial community initiatives. These include signing of a partnership agreement between Galam S.A., Dynacor’s subsidiary in Senegal, and a local technical, industrial and mining high school with an aim of creating internship opportunities for local youth and fostering local wealth creation; upgrade of a local road; and donation of school supplies. The Corporation continues its integration of the Svetlana plant on multiple fronts: Process plant - The Engineering, Procurement and Construction Management (EPCM) contract has been awarded for the upgrade of the tailing ponds. Dynacor’s self-performing project team is already on site, which will favour local Ecuador suppliers. The main Requests for Quotation (RFQs) are being prepared for the critical path activities. Dynacor’s subsidiary in Ecuador has been set up and named Sumacor-EC, recruitment of key personnel has begun, and first operational hires are already on site. As part of its commitment to responsible milling, Dynacor has repurposed on-site waste through its delivery to authorised third-party recycling companies. In coordination with local authorities, the Corporation has begun providing as-needed support to local communities in order to build local capacity. This includes promotion of employment for single mothers, training in solid waste management, and improvement of road infrastructure. The 2026 program will include a data collection campaign to improve the quality of socioeconomic information for the host communities. Discussions are deepening with Ghana’s GoldBod regarding Dynacor’s proposal for the structure of its potential operations in Ghana. The Corporation is optimistic that an agreement with GoldBod can be struck that will generate long-term value for all stakeholders. Announcement • Feb 25
Dynacor Group Inc. Approves Monthly Dividend for March 2026, Payable on March 17, 2026 Dynacor Group Inc. announced on February 24, 2026 that its Board of Directors has approved a monthly dividend of CAD 0.01333 per common share (CAD 0.16 annually) for March 2026. This will be payable on March 17, 2026, to shareholders of record as of the close of business on March 9, 2026. Announcement • Jan 27
Dynacor Group Announces February 2026 Dividend, Payable on February 17, 2026 Dynacor Group Inc. announced that its Board of Directors has approved a monthly dividend of CAD 0.01333 per common share (CAD 0.16 annually) for February 2026. This will be payable on February 17, 2026, to shareholders of record as of
the close of business on February 9, 2026. Announcement • Jan 20
Dynacor Group Inc. Provides Earnings and Production Guidance for 2026 Dynacor Group Inc. provided earnings and production guidance for 2026. For the period, the company expects sales between $530 million to $580 million and net income between $22 million to $26 million. The company expects Production between 125,000-135,000 AuEq ounces. Announcement • Jan 19
Dynacor Group Inc. to Report Fiscal Year 2025 Results on Mar 26, 2026 Dynacor Group Inc. announced that they will report fiscal year 2025 results on Mar 26, 2026 Announcement • Nov 27
Dynacor Group Declares Monthly Dividend for December 2025, Payable on December 19, 2025 Dynacor Group Inc. announced its monthly dividend payment for December 2025 in the amount of CAD 0.01333 per common share which will be payable on December 19, 2025, to shareholders of record as of the close of business on December 9, 2025. This dividend represents the sixty-ninth (69th) dividend and fifty-ninth (59th) monthly dividend payment made to shareholders. Announcement • Nov 26
iolite Partners Renews its Call for Leadership Change at Dynacor Group On November 25, 2025, iolite Partners Ltd. announced that it renews its call for leadership change following Dynacor Group Inc.’s Q3 earnings release. iolite Partners calls upon the Company leadership to do the right thing in the best interest of the Company. The President & CEO Jean Martineau and Chairman Pierre Lépine should resign immediately as the first step to restoring credibility, rebuilding trust, and safeguarding shareholder value. Announcement • Nov 13
Dynacor Group Inc. Provides Earnings Guidance for 2025 Dynacor Group Inc. provided earnings guidance for 2025. For the period, the company expects sales between $340 million to $350 million (YTD $260.2 million) and net income between $14 million to $17 million (YTD $14.1 million). Announcement • Oct 29
Dynacor Group Declares Monthly Dividend for November 2025, Payable on November 19, 2025 Dynacor Group Inc. announced its monthly dividend payment for November 2025 in the amount of CAD 0.01333 per common share which will be payable on November 19, 2025, to shareholders of record as of the close of business on November 11, 2025. This dividend represents the sixty-eighth (68th) dividend and fifty-eighth (58th) monthly dividend payment made to shareholders. Announcement • Sep 26
Dynacor Group Declares Monthly Dividend Payment for October 2025, Payable on October 16, 2025 Dynacor Group Inc. announced its monthly dividend payment for October 2025 in the amount of CAD 0.01333 per common share which will be payable on October 16, 2025, to shareholders of record as of the close of business on October 9, 2025. This dividend represents the sixty-seventh (67th) dividend and fifty-seventh (57th) monthly dividend payment made to shareholders. Announcement • Aug 29
Dynacor Group Declares Dividend for the Month of September 2025, Payable on September 18, 2025 Dynacor Group Inc. announced its monthly dividend payment for September 2025 in the amount of CAD 0.01333 per common share which will be payable on September 18, 2025, to shareholders of record as of the close of business on September 11, 2025. This dividend represents the sixty-sixth (66th) dividend and fifty-sixth (56th) monthly dividend payment made to shareholders. The Corporation’s monthly dividend qualifies as an “eligible dividend” for Canadian income tax purposes. The payment and increase of dividends are at the discretion of the Board and will depend on the Corporation’s financial results, cash requirements, prospects and other factors deemed relevant by the Board. Announcement • Aug 12
Dynacor Group Inc. Updates Earnings and Production Guidance for the First Half and Full Year 2025 Dynacor Group Inc. updated earnings and production guidance for the first half and full year 2025. For the first half company expects sales to be $159.7 million; net income of $8.6 million; Production of Au Eq 52,005 oz.
For the year company now expects sales of $340 million to $350 million compared to $345 million to $375 million previously. Net income of $14 million to $17 million. Production of Au Eq 105-110,000 oz compared to Au Eq120-130,000 oz previously. Announcement • Jul 24
Dynacor Group Declares Quarterly Dividend for August 2025, Payable on August 19, 2025 Dynacor Group Inc. announced its monthly dividend payment for August 2025 in the amount of CAD 0.01333 per common share which will be payable on August 19, 2025, to shareholders of record as of the close of business on August 11, 2025. This dividend represents the sixty-fifth (65th) dividend and fifty-fifth (55th) monthly dividend payment made to shareholders. Announcement • Jun 26
Dynacor Group Inc. Announces Monthly Dividend Payment for July 2025, Payable on July 17, 2025 Dynacor Group Inc. announced its monthly dividend payment for July 2025 in the amount of CAD 0.01333 per common share, which will be payable on July 17, 2025, to shareholders of record as of the close of business on July 10, 2025. This dividend represents the sixty-fourth (64th) dividend and fifty-fourth (54th) monthly dividend payment made to shareholders. Announcement • Jun 19
Dynacor Group Inc. Provides Sales Guidance for the Year 2025 Dynacor Group Inc. provided sales guidance for the year 2025. The corporation is on target to meet its annual sales guidance of between $345 million and $375 million. Announcement • Jun 02
Dynacor Group Inc. Announces Monthly Dividend Payment for June 2025, Payable on June 18, 2025 Dynacor Group Inc. announced its monthly dividend payment for June 2025 in the amount of CAD 0.01333 per common share which will be payable on June 18, 2025, to shareholders of record as of the close of business on June 11, 2025. This dividend represents the sixty-third (63rd) dividend and fifty-third (53rd) monthly dividend payment made to shareholders. Announcement • Apr 28
Dynacor Group Inc. Announces Chief Financial Officer Changes Dynacor Group Inc. announced with deep gratitude the retirement of Mr. Léonard Teoli and the appointment of a new Chief Financial Officer. After a 14-year career at Dynacor and following a long-standing transition plan, Mr. Léonard Teoli will retire from the Corporation as Chief Financial Officer and Vice-President, Finance. He had informed both the CEO Jean Martineau and the board in June 2024 of his intention to retire after the 2024 year-end financial results. The Corporation is pleased to announce, effective May 1, 2025, the appointment of Stéphane Lemarié as new Chief Financial Officer and Vice-President, Finance. Stéphane is a seasoned accounting and finance executive with over 25 years of experience in senior auditing and finance management roles in multinational environments within both public and private corporations. He joined Dynacor in 2017 as Controller and Director of Financial Information where he has successfully stewarded the company’s financial reporting and capital allocation. Prior to this, he spent three years at MPC (Technicolor) in Montreal where he held the key role of Financial Controller. Stéphane began his career in international finance as an auditor for KPMG in France, serving large industrial clients for 14 years. Announcement • Apr 24
Dynacor Group Inc. Declares Monthly Dividend for May 2025, Payable on May 15, 2025 Dynacor Group Inc. announced its monthly dividend payment for May 2025 in the amount of CAD 0.01333 per common share which will be payable on May 15, 2025, to shareholders of record as of the close of business on May 8, 2025. Announcement • Apr 22
Dynacor Group Inc. to Report Q1, 2025 Results on May 15, 2025 Dynacor Group Inc. announced that they will report Q1, 2025 results on May 15, 2025 Announcement • Apr 02
Dynacor Group Inc. (TSX:DNG) executed a conditional letter of offer and indicative terms to acquire Arkham Metals SAS from Pelorus Minerals Ltd. for $9.8 million. Dynacor Group Inc. (TSX:DNG) executed a conditional letter of offer and indicative terms to acquire Arkham Metals SAS from Pelorus Minerals Ltd. for $9.8 million on March 31, 2025. As of the consideration Dynacor will pay $9.45 million at closing, along with a $0.15 million upfront exclusivity payment, while $0.15 million will be held back for 60 days to cover potential liabilities. The deal is not contingent on financing. Arkham Metals SAS consists of a permitted carbon-in-pulp processing plant on a 36.5-hectare land concession in Portovelo, El Oro, southern Ecuador, with permits for up to 1,500 tpd. Dynacor plans to invest $25 million over the next 12 months in capital expenditures, plant refurbishing, and working capital for the project. To support this, the company recently completed a $22.1 million financing (CA$31.6 million), with proceeds allocated for expansion into other jurisdictions and general working capital. The Offer is subject to due diligence and final approval from Dynacor’s Board of Directors. Announcement • Mar 29
Dynacor Group Inc. Declares April 2025 Dividend, Payable on April 17, 2025 Dynacor Group Inc. announced its monthly dividend payment for April 2025 in the amount of CAD 0.01333 per common share which will be payable on April 17, 2025, to shareholders of record as of the close of business on April 10th, 2025. This dividend represents the sixty-first (61st) dividend and fifty-first (51st) monthly dividend payment made to shareholders. Announcement • Mar 07
Dynacor Group Inc., Annual General Meeting, Jun 17, 2025 Dynacor Group Inc., Annual General Meeting, Jun 17, 2025. Announcement • Mar 03
Dynacor Group Inc. Provides Earnings and Production Guidance for the Year 2025 Dynacor Group Inc. provided earnings and production guidance for the year 2025. For the year, the company expects sales to be USD 345 million to USD 375 million, Production to be 120,000 Au Eq oz to 130,000 Au Eq oz and Net income USD 14 million to USD 17 million. Announcement • Feb 26
Dynacor Group Inc. Declares March 2025 Dividend, Payable on March 19, 2025 Dynacor Group Inc. announced its monthly dividend payment for March 2025 in the amount of CAD 0.01333 per common share which will be payable on March 19, 2025, to shareholders of record as of the close of business on March 10, 2025. This dividend represents the sixtieth (60th) dividend and fiftieth (50th) monthly dividend payment made to shareholders. Announcement • Feb 21
Dynacor Group Inc. announced that it has received CAD 0.6875 million in funding On February 20, 2025 Dynacor Group Inc. closed the transaction. The transaction includes participation from three investors. The company will pay sales commission of CAD 41,248.7922 ($28,801). Announcement • Feb 06
Dynacor Group Inc. has completed a Follow-on Equity Offering in the amount of CAD 27.5 million. Dynacor Group Inc. has completed a Follow-on Equity Offering in the amount of CAD 27.5 million.
Security Name: Common Shares
Security Type: Common Stock
Securities Offered: 5,000,000
Price\Range: CAD 5.5
Discount Per Security: CAD 0.33 Announcement • Jan 31
Dynacor Group Inc. has filed a Follow-on Equity Offering in the amount of CAD 20.0002 million. Dynacor Group Inc. has filed a Follow-on Equity Offering in the amount of CAD 20.0002 million.
Security Name: Common Shares
Security Type: Common Stock
Securities Offered: 3,636,400
Price\Range: CAD 5.5 Announcement • Jan 29
Dynacor Group Declares February 2025 Dividend, Payable on February 18, 2025 Dynacor Group Inc. announced its monthly dividend payment for February 2025 in the amount of CAD 0.01333 per common share which will be payable on February 18, 2025, to shareholders of record as of the close of business on February 10, 2025. This dividend represents the fifty-ninth (59th) dividend and forty-ninth (49th) monthly dividend payment made to shareholders. Announcement • Dec 19
Dynacor Group Inc. Declares Monthly Dividend Payment for January 2025, Payable on January 17, 2025 Dynacor Group Inc. announced the declaration of a 14.3 % increased monthly dividend payment for January 2025 of CAD 0.01333 per common share which will be payable on January 17, 2025, to shareholders of record as of the close of business on January 9, 2025. This dividend represents the fifty-eighth (58th) dividend and forty-eighth (48th) monthly dividend payment made to shareholders. The Corporation’s monthly dividend qualifies as an “eligible dividend” for Canadian income tax purposes. The payment and increase of dividends are at the discretion of the Board and will depend on the Corporation’s financial results, cash requirements, prospects and other factors deemed relevant by the Board. Announcement • Nov 28
Dynacor Group Inc. Announces Monthly Dividend Payment for December 2024, Payable on December 19, 2024 Dynacor Group Inc. announced its monthly dividend payment for December 2024 in the amount of CAD 0.01167 per common share which will be payable on December 19, 2024, to shareholders of record as of the close of business on December 11, 2024. This dividend represents the fifty-seventh (57th) dividend and forty-seventh (47th) monthly dividend payment made to shareholders. Announcement • Nov 20
Dynacor Group Appoints Daniel Misiano as Chief Operating Officer Dynacor Group Inc. announced the appointment of Daniel Misiano as Chief Operating Officer. This strategic appointment comes at an important time of organizational growth for Dynacor. Daniel has a wealth of experience at managing large-scale businesses, both nationally and internationally, where he has demonstrated a keen sense of strategy and strong leadership. Throughout his career, Daniel has held a number of positions of responsibility in different industrial sectors. For example, as President of MBI Global, he oversaw impressive growth that positioned the company among industry leaders through ambitious international expansion. His career path also took him to work for multinationals such as Atlas Copco, where he contributed to innovative projects and the successful integration of new divisions within the company. Over the years, he has gained extensive experience in Africa and South America. Recognized for his pragmatic, results-oriented approach, Daniel has developed and executed complex business strategies while fostering team collaboration. He brings to Dynacor a unique combination of skills in team management, new market development and strengthening international operations. His refined leadership and understanding of international dynamics will be essential assets in supporting Dynacor in its growth projects, particularly in the development of its global activities. Daniel is also trilingual and fluent in French, English and Spanish, enabling him to navigate with ease in multicultural environments. This appointment marks a new stage in the history and growth trajectory of Dynacor, which continues to strengthen its position as leader in its sector. Reported Earnings • Nov 16
Third quarter 2024 earnings released: EPS: US$0.16 (vs US$0.066 in 3Q 2023) Third quarter 2024 results: EPS: US$0.16 (up from US$0.066 in 3Q 2023). Revenue: US$76.2m (up 20% from 3Q 2023). Net income: US$5.87m (up 131% from 3Q 2023). Profit margin: 7.7% (up from 4.0% in 3Q 2023). The increase in margin was driven by higher revenue. Revenue is forecast to grow 5.3% p.a. on average during the next 2 years, compared to a 2.1% growth forecast for the Metals and Mining industry in Europe. Over the last 3 years on average, earnings per share has increased by 15% per year whereas the company’s share price has increased by 18% per year. Announcement • Nov 12
Dynacor Group Announces Board Changes Dynacor Group Inc. announced with deep gratitude the retirement of Mr. Roger Demers, member of the board of directors and chairman of the audit committee, after more than 15 years of dedicated service. Mr. Demers joined the Dynacor board in 2009 and played an essential role in the evolution and growth of company. During his tenure, Mr. Demers brought valuable expertise and strategic vision that helped strengthen position in the market. His leadership on the audit committee has been particularly notable, ensuring the transparency and integrity of financial operations. Mr. Demers has also been a mentor to many members of the team, generously sharing his knowledge and experience. His passion for excellence and dedication to the company's mission left a lasting imprint. The members of the Board of Directors, members of management as well as employees of Dynacor Group Inc. also congratulate Mr. Demers for his great contribution and his greatly appreciated personality. The Company also announced the appointment of Mr. Pierre Béliveau CPA as the Company’s new Director. In addition to his role on the Board of Directors, Mr. Béliveau will also chair the Audit and Risk Management Committee, where he will use his expertise to ensure the transparency and integrity of company’s financial processes. He began his career at PWC (formerly PW) where he worked with various clients in the mining industry, among others. Mr. Béliveau has extensive experience in the field of public companies, having held several management positions in the mining sector. His impressive career also includes overseas assignments, including more than ten years in West Africa, where he contributed to various major projects, strengthening his skills in financial management and corporate strategy. Declared Dividend • Nov 04
Dividend of CA$0.012 announced Shareholders will receive a dividend of CA$0.012. Ex-date: 8th November 2024 Payment date: 19th November 2024 Dividend yield will be 2.6%, which is lower than the industry average of 4.8%. Sustainability & Growth Dividend is well covered by both earnings (23% earnings payout ratio) and cash flows (26% cash payout ratio). The dividend has increased by an average of 22% per year over the past 6 years. However, payments have been volatile during that time. Earnings per share has grown by 34% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Announcement • Oct 29
Dynacor Group Inc. Declares November 2024 Dividend, Payable on November 19, 2024 Dynacor Group Inc. announced its monthly dividend payment for November 2024 in the amount of CAD 0.01167 per common share which will be payable on November 19, 2024, to shareholders of record as of the close of business on November 8, 2024. This dividend represents the fifty-sixth (56th) dividend and forty-sixth (46th) monthly dividend payment made to shareholders. Declared Dividend • Oct 07
Dividend of CA$0.012 announced Shareholders will receive a dividend of CA$0.012. Ex-date: 10th October 2024 Payment date: 17th October 2024 Dividend yield will be 2.8%, which is lower than the industry average of 4.8%. Sustainability & Growth Dividend is well covered by both earnings (23% earnings payout ratio) and cash flows (27% cash payout ratio). The dividend has increased by an average of 23% per year over the past 6 years. However, payments have been volatile during that time. Earnings per share has grown by 34% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Buy Or Sell Opportunity • Sep 17
Now 20% overvalued Over the last 90 days, the stock has fallen 7.6% to €3.40. The fair value is estimated to be €2.82, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 14% over the last 3 years. Earnings per share has grown by 16%. Declared Dividend • Sep 02
Dividend of CA$0.012 announced Shareholders will receive a dividend of CA$0.012. Ex-date: 10th September 2024 Payment date: 17th September 2024 Dividend yield will be 2.8%, which is lower than the industry average of 4.8%. Sustainability & Growth Dividend is well covered by both earnings (23% earnings payout ratio) and cash flows (26% cash payout ratio). The dividend has increased by an average of 22% per year over the past 6 years. However, payments have been volatile during that time. Earnings per share has grown by 34% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Announcement • Aug 29
Dynacor Group Declares Dividend for the Month of September 2024, Payable on September 17, 2024 Dynacor Group Inc. announced its monthly dividend payment for September 2024 in the amount of CAD 0.01167 per common share which will be payable on September 17, 2024, to shareholders of record as of the close of business on September 10, 2024. This dividend represents the fifty-fourth (54th) dividend and forty-fourth (44th) monthly dividend payment made to shareholders. The Corporation’s monthly dividend qualifies as an “eligible dividend” for Canadian income tax purposes. The payment and increase of dividends are at the discretion of the Board and will depend on the Corporation’s financial results, cash requirements, prospects and other factors deemed relevant by the Board. Buy Or Sell Opportunity • Aug 18
Now 24% overvalued Over the last 90 days, the stock has fallen 3.4% to €3.42. The fair value is estimated to be €2.75, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 14% over the last 3 years. Earnings per share has grown by 16%. Reported Earnings • Aug 16
Second quarter 2024 earnings released: EPS: US$0.12 (vs US$0.12 in 2Q 2023) Second quarter 2024 results: EPS: US$0.12 (up from US$0.12 in 2Q 2023). Revenue: US$67.4m (up 4.6% from 2Q 2023). Net income: US$4.50m (flat on 2Q 2023). Profit margin: 6.7% (down from 6.9% in 2Q 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 5.4% p.a. on average during the next 2 years, compared to a 1.9% growth forecast for the Metals and Mining industry in Europe. Over the last 3 years on average, earnings per share has increased by 16% per year but the company’s share price has increased by 23% per year, which means it is tracking significantly ahead of earnings growth. Declared Dividend • Aug 05
Dividend of CA$0.012 announced Shareholders will receive a dividend of CA$0.012. Ex-date: 9th August 2024 Payment date: 16th August 2024 Dividend yield will be 2.8%, which is lower than the industry average of 4.8%. Sustainability & Growth Dividend is covered by both earnings (23% earnings payout ratio) and cash flows (59% cash payout ratio). The dividend has increased by an average of 22% per year over the past 6 years. However, payments have been volatile during that time. Earnings per share has grown by 31% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Announcement • Jul 26
Dynacor Group Inc. Announces Its Monthly Dividend Payment for August 2024, Payable on August 16, 2024 Dynacor Group Inc. announced its monthly dividend payment for August 2024 in the amount of CAD 0.01167 per common share which will be payable on August 16, 2024, to shareholders of record as of the close of business on August 9, 2024. Announcement • Jul 18
Dynacor Group Inc. Provides Sales Guidance for the Year 2024 Dynacor Group Inc. provided sales guidance for the year 2024. For the year, the company expects sales to be USD 265 million -USD 285 million using a market gold price ranging between USD 2,000 per ounce and USD 2,050 per ounce. Declared Dividend • Jul 01
Dividend of CA$0.012 announced Shareholders will receive a dividend of CA$0.012. Ex-date: 10th July 2024 Payment date: 18th July 2024 Dividend yield will be 2.6%, which is lower than the industry average of 4.8%. Sustainability & Growth Dividend is covered by both earnings (23% earnings payout ratio) and cash flows (60% cash payout ratio). The dividend has increased by an average of 23% per year over the past 6 years. However, payments have been volatile during that time. Earnings per share has grown by 30% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Announcement • Jun 28
Dynacor Group Inc. Announces Its Monthly Dividend Payment for July 2024, Payable on July 18, 2024 Dynacor Group Inc. announced its monthly dividend payment for July 2024 in the amount of CAD 0.01167 per common share which will be payable on July 18, 2024, to shareholders of record as of the close of business on July 10, 2024. This dividend represents the fifty-second (52nd) dividend and forty-second (42nd) monthly dividend payment made to shareholders. Announcement • Jun 19
Dynacor Group Inc. Provides Earnings Guidance for the Year 2024 Dynacor Group Inc. provides earnings guidance for the year 2024. For the period, the company expects sales guidance for 2024 ranging between USD 265 million - USD 285 million using a market gold price ranging between USD 2,000 and USD 2,050 per ounce. Declared Dividend • May 31
Dividend of CA$0.012 announced Shareholders will receive a dividend of CA$0.012. Ex-date: 7th June 2024 Payment date: 18th June 2024 Dividend yield will be 2.5%, which is lower than the industry average of 4.8%. Sustainability & Growth Dividend is covered by both earnings (23% earnings payout ratio) and cash flows (59% cash payout ratio). The dividend has increased by an average of 22% per year over the past 6 years. However, payments have been volatile during that time. Earnings per share has grown by 30% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Announcement • May 30
Dynacor Group Inc. Announces Its Monthly Dividend Payment for June 2024, Payable on June 18, 2024 Dynacor Group Inc. announced its monthly dividend payment for June 2024 in the amount of CAD 0.01167 per common share which will be payable on June 18, 2024, to shareholders of record as of the close of business on June 7, 2024. Announcement • May 24
Dynacor Group Inc. Provides Sales Guidance for the Year 2024 Dynacor Group Inc. provided sales guidance for the year 2024. The Corporation announced sales guidance for 2024 ranging between USD 265 million and USD 285 million using a market gold price ranging between USD 2,000 and USD 2,050 per ounce. Reported Earnings • May 17
First quarter 2024 earnings released: EPS: US$0.13 (vs US$0.12 in 1Q 2023) First quarter 2024 results: EPS: US$0.13 (up from US$0.12 in 1Q 2023). Revenue: US$67.7m (up 19% from 1Q 2023). Net income: US$4.78m (up 7.0% from 1Q 2023). Profit margin: 7.1% (down from 7.9% in 1Q 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 6.3% p.a. on average during the next 2 years, compared to a 1.7% growth forecast for the Metals and Mining industry in Europe. Over the last 3 years on average, earnings per share has increased by 24% per year whereas the company’s share price has increased by 22% per year. Board Change • May 01
Insufficient new directors There is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 4 experienced directors. 3 highly experienced directors. Independent Director Cyril Gradis was the last director to join the board, commencing their role in 2023. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Declared Dividend • Apr 29
Dividend of CA$0.012 announced Shareholders will receive a dividend of CA$0.012. Ex-date: 7th May 2024 Payment date: 16th May 2024 Dividend yield will be 2.7%, which is lower than the industry average of 4.8%. Sustainability & Growth Dividend is covered by earnings (23% earnings payout ratio) but not covered by cash flows (108% cash payout ratio). The dividend has increased by an average of 22% per year over the past 6 years. However, payments have been volatile during that time. Earnings per share has grown by 28% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Announcement • Apr 26
Dynacor Group Inc. Declares Dividend for May 2024, Payable on May 16, 2024 Dynacor Group Inc. announced its monthly dividend payment for May 2024 in the amount of CAD 0.01167 per common share which will be payable on May 16, 2024, to shareholders of record as of the close of business on May 8, 2024. Announcement • Apr 10
Dynacor Group Inc., Annual General Meeting, Jun 18, 2024 Dynacor Group Inc., Annual General Meeting, Jun 18, 2024. Valuation Update With 7 Day Price Move • Apr 02
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to €3.24, the stock trades at a trailing P/E ratio of 8.5x. Average trailing P/E is 8x in the Metals and Mining industry in Germany. Total returns to shareholders of 141% over the past three years. Declared Dividend • Mar 31
Dividend of CA$0.012 announced Shareholders will receive a dividend of CA$0.012. Ex-date: 9th April 2024 Payment date: 18th April 2024 Dividend yield will be 3.0%, which is lower than the industry average of 4.8%. Sustainability & Growth Dividend is covered by earnings (23% earnings payout ratio) but not covered by cash flows (110% cash payout ratio). The dividend has increased by an average of 23% per year over the past 6 years and payments have been stable during that time. Earnings per share has grown by 28% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Announcement • Mar 28
Dynacor Group Inc. Declares Dividend for April 2024, Payable April 18, 2024 Dynacor Group Inc. announced its monthly dividend payment for April 2024 in the amount of CAD 0.01167 per common share which will be payable on April 18, 2024, to shareholders of record as of the close of business on April 10, 2024. This dividend represents the forty-ninth (49th) dividend and thirty-ninth (39th) monthly payment made to shareholders. Reported Earnings • Mar 27
Full year 2023 earnings released: EPS: US$0.39 (vs US$0.31 in FY 2022) Full year 2023 results: EPS: US$0.39 (up from US$0.31 in FY 2022). Revenue: US$250.2m (up 27% from FY 2022). Net income: US$15.1m (up 25% from FY 2022). Profit margin: 6.0% (down from 6.1% in FY 2022). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 30% per year whereas the company’s share price has increased by 25% per year. Announcement • Mar 23
Dynacor Group Inc. Provides Earnings Guidance for the Year 2024 Dynacor Group Inc. provided earnings guidance for the year 2024. The company announced its 2024 earnings guidance, with total sales projected to increase between 6% and 14% compared to 2023 sales, reaching between USD 265 million and USD 285 million (CAD 359 million and CAD 387 million). Net income is estimated to reach between USD 12 million and USD 15 million (between USD 0.33 and USD 0.41 per share) (CAD 0.45 and CAD 0.56 per share). Sales and earnings forecasts are based on gold price estimates ranging between USD 2,000 and USD 2,050 per ounce and various other production assumptions, including ore grades. Declared Dividend • Mar 04
Dividend of CA$0.012 announced Shareholders will receive a dividend of CA$0.012. Ex-date: 7th March 2024 Payment date: 19th March 2024 Dividend yield will be 3.3%, which is lower than the industry average of 4.8%. Sustainability & Growth Dividend is covered by both earnings (22% earnings payout ratio) and cash flows (65% cash payout ratio). The dividend has increased by an average of 23% per year over the past 6 years and payments have been stable during that time. Earnings per share has grown by 27% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Announcement • Mar 01
Dynacor Group Inc. Announces Dividend for March 2024, Payable on March 19, 2024 Dynacor Group Inc. announced its monthly dividend payment for March 2024 in the amount of CAD 0.01167 per common share which will be payable on March 19, 2024, to shareholders of record as of the close of business on March 8, 2024. This dividend represents the forty-eigth (48th) dividend and thirty-eigth (38th) monthly payment made to shareholders. Declared Dividend • Feb 05
Dividend of CA$0.012 announced Shareholders will receive a dividend of CA$0.012. Ex-date: 7th February 2024 Payment date: 16th February 2024 Dividend yield will be 3.2%, which is lower than the industry average of 4.8%. Sustainability & Growth Dividend is covered by both earnings (22% earnings payout ratio) and cash flows (67% cash payout ratio). The dividend has increased by an average of 28% per year over the past 5 years and payments have been stable during that time. Earnings per share has grown by 26% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Announcement • Jan 26
Dynacor Group Inc. Declares February 2024 Dividend, Payable on February 16, 2024 Dynacor Group Inc. announced its monthly dividend payment for February 2024 in the amount of CAD 0.01167 per common share which will be payable on February 16, 2024, to shareholders of record as of the close of business on February 8, 2024. This dividend represents the forty-seventh (47th) dividend and thirty-seventh (37th) monthly payment made to shareholders. Upcoming Dividend • Jan 01
Upcoming dividend of CA$0.012 per share at 2.9% yield Eligible shareholders must have bought the stock before 08 January 2024. Payment date: 17 January 2024. Payout ratio is a comfortable 22% and this is well supported by cash flows. Trailing yield: 2.9%. Lower than top quartile of German dividend payers (5.0%). Lower than average of industry peers (8.0%). Announcement • Dec 22
Dynacor Group Declares Monthly Dividend for January 2024, Payable on January 17, 2024 Dynacor Group Inc. announced its monthly dividend for January 2024. The declaration of a 16% increased dividend payment of $0.01167 per common share will be payable on January 17, 2024, to shareholders of record as of the close of business on January 9, 2024. Announcement • Dec 21
Dynacor Group Inc. Provides Earnings Guidance for the Year 2023 Dynacor Group Inc. provided earnings guidance for the year 2023. For the period, the Corporation forecasted sales in the range of USD 210 million to USD 235 million. At the current rate, Dynacor is on its way to historical annual sales of USD 250 million for 2023. Announcement • Nov 29
Dynacor Group Declares Dividend for December 2023, Payable on December 15, 2023 Dynacor Group Inc. announced its monthly dividend for December 2023. The declaration of a dividend payment of CAD 0.01 per common share will be payable on December 15, 2023, to shareholders of record as of the close of business on December 8, 2023. Announcement • Nov 22
Dynacor Group Inc. Approves Increase Monthly Dividend Starting in January 2024 Dynacor Group Inc. announced its board of directors approved a 16.666% increase to the corporation's monthly dividend. The monthly dividend will increase to 1.166667 cents from 1 cent and on an annual basis to Canadian 14 cents from 12 cents per common share starting in January 2024. This announcement marks the company’s 5th dividend increase since the Corporation paid its first dividend to shareholders in October 2018. Announcement • Nov 14
Dynacor Group Inc. Provides Earnings Guidance for the Year 2023 Dynacor Group Inc. provided earnings guidance for the year 2023. For the year, the Corporation forecasted sales in the range of $210 million - $235 million representing a growth of 6.5%-20.0% over 2022 sales. This would result in a net income in the range of $8.5 million - $11.5 million ($0.22 per share- $0.30 per share). At the current rate, total 2023 sales should reach $245 million, a 4.3% increase compared to the high range yearly projection and the net income will surpass the yearly projections. Reported Earnings • Nov 13
Third quarter 2023 earnings released: EPS: US$0.066 (vs US$0.021 in 3Q 2022) Third quarter 2023 results: EPS: US$0.066 (up from US$0.021 in 3Q 2022). Revenue: US$63.4m (up 38% from 3Q 2022). Net income: US$2.54m (up 218% from 3Q 2022). Profit margin: 4.0% (up from 1.7% in 3Q 2022). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 36% per year but the company’s share price has only increased by 22% per year, which means it is significantly lagging earnings growth. Announcement • Nov 01
Dynacor Group Inc. Appoints Denis Rivard as Its First-Ever Chief Operating Officer Dynacor Group Inc. announce the appointment of Denis Rivard, P.Eng. as its first-ever Chief Operating Officer (COO). This strategic appointment comes at a time of significant growth for Dynacor, and the Corporation is primed to benefit from Rivard's extensive experience and leadership in project management. With over 40 years of experience spanning across multiple industries and continents, Rivard brings an impressive portfolio to Dynacor. He recently assumed the role of vice president at CDPQ Infra, where he led all project activities from construction to commissioning for the USD 7.5 Billion REM Project. His appointment is pivotal for Dynacor, as the Corporation is expanding its gold ore processing operations to other jurisdictions. Throughout his career, Rivard has demonstrated his ability to manage and deliver various mega projects globally. His portfolio includes aluminum smelters, mining projects, product export terminals, chemical/petrochemical/Liquefaction of Natural Gas (LNG) facilities, major infrastructure projects, pipelines, ports, marine facilities, rail networks, and energy projects. His international assignments have honed his multidisciplinary expertise, enabling him to lead diverse teams and build collaborative, solid relationships internally and with key stakeholders. Rivard holds a degree in mechanical engineering from the University of Quebec at Chicoutimi (UQAC). He began his career in aluminum smelter projects in Quebec, Canada, and the USA. He then spent over 20 years in South Africa, working in several African countries, the Middle East, Southeast Asia, and Latin America across various industrial and infrastructure sectors. Upcoming Dividend • Oct 31
Upcoming dividend of CA$0.01 per share at 3.6% yield Eligible shareholders must have bought the stock before 07 November 2023. Payment date: 16 November 2023. Payout ratio is a comfortable 23% but the company is paying out more than the cash it is generating. Trailing yield: 3.6%. Lower than top quartile of German dividend payers (5.1%). Lower than average of industry peers (9.0%). Announcement • Oct 27
Dynacor Group Inc. Announces Monthly Dividend for November 2023, Will Be Payable on November 16, 2023 Dynacor Group Inc. announced its monthly dividend for November 2023. The declaration of a dividend payment of CAD 0.01 per common share will be payable on November 16, 2023, to shareholders of record as of the close of business on November 8, 2023. This dividend represents the forty-fourth (44th) dividend and thirty-fourth (34th) monthly payment made to shareholders. Announcement • Oct 20
Dynacor Group Inc. Provides Earnings Guidance for the Year Full Year 2023 Dynacor Group Inc. provided earnings guidance for the year full year 2023. For the year, the company expects forecasted sales in the range of USD 210-USD 235 million based on an average gold price between USD 1,800 and USD 1,900 per ounce. It is well on track to surpass its yearly sales forecasts. Announcement • Oct 01
Dynacor Group Inc. Announces Monthly Dividend for October 2023, Payable on October 19, 2023 Dynacor Group Inc. announced its monthly dividend for October 2023. The declaration of a dividend payment of CAD 0.01 per common share will be payable on October 19, 2023, to shareholders of record as of the close of business on October 11, 2023. This dividend represents the forty-third (43rd) dividend and thirty-third (33rd) monthly payment made to shareholders. Announcement • Sep 21
Dynacor Group Inc. Reports Monthly Record Gold Production of over 12,000 AuEq Ounces and Sales of USD 21.6 Million for August 2023 Dynacor Group Inc. announced that it had achieved its best ever monthly gold production, with a record 12,046 AuEq ounces and generated gold sales of USD 21.6 million (CAD 29.1 million) for August 2023, compared to USD 17.3 million (CAD 22.4 million) in August 2022, an increase of USD 4.3 million or 24.9% over last year. Sales increase versus August of last year is due to increase sales volume (+14.5%) and increase sales price (+10.4%). In August, the average selling price of gold was USD 1,912 per ounce, compared to USD 1,749 per ounce in August 2022. For 2023, the Corporation forecasted sales in the range of USD 210-$235 million based on an average gold price between USD 1,800 and USD 1,900 per ounce. The 2023 cumulative sales at the end of August amounted to USD 165.3 million, compared to USD 135.6 million for the same period of 2022, a 21.9% increase. The average selling price of gold at the end of August 2023 was USD 1,925 per oz compared to USD 1,839 per oz in 2022. During August 2023, the Veta Dorada plant processed a record of 15,010 tonnes (cumulative year to date of 112,329 tonnes). Sales are converted using the monthly average exchange rate. Upcoming Dividend • Aug 31
Upcoming dividend of CA$0.01 per share at 3.7% yield Eligible shareholders must have bought the stock before 07 September 2023. Payment date: 20 September 2023. Payout ratio is a comfortable 23% but the company is paying out more than the cash it is generating. Trailing yield: 3.7%. Lower than top quartile of German dividend payers (4.9%). Lower than average of industry peers (8.8%). Announcement • Aug 26
Dynacor Group Inc. Announces Monthly Dividend for September of 2023, Payable on September 20, 2023 Dynacor Group Inc. announced its monthly dividend for September 2023. The declaration of a dividend payment of CAD 0.01 per common share will be payable on September 20, 2023, to shareholders of record as of the close of business on September 8, 2023. New Risk • Aug 13
New major risk - Earnings quality The company has a high level of non-cash earnings. Accrual ratio: 24% This is considered a major risk. Non-cash earnings can arise from many different things. However, if a company consistently has a high level of non-cash earnings, it may be a sign that they are recognizing revenue from customers before the full value of the sales are received as cash or they are not depreciating the value of their assets appropriately. These are practices that inflate earnings, while not providing a similar increase to cash flows. Companies in some select industries naturally have a high level of non-cash earnings and it is not a major concern. However, in the worst case scenario it can be an early sign of performance manipulation by management. Currently, the following risks have been identified for the company: Major Risk High level of non-cash earnings (24% accrual ratio). Minor Risks Dividend is not well covered by cash flows (383% cash payout ratio). Market cap is less than US$100m (€78.5m market cap, or US$85.9m). Reported Earnings • Aug 13
Second quarter 2023 earnings released: EPS: US$0.12 (vs US$0.066 in 2Q 2022) Second quarter 2023 results: EPS: US$0.12 (up from US$0.066 in 2Q 2022). Revenue: US$64.5m (up 20% from 2Q 2022). Net income: US$4.48m (up 74% from 2Q 2022). Profit margin: 6.9% (up from 4.8% in 2Q 2022). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 38% per year but the company’s share price has only increased by 11% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Aug 02
Upcoming dividend of CA$0.01 per share at 4.0% yield Eligible shareholders must have bought the stock before 09 August 2023. Payment date: 17 August 2023. Payout ratio is a comfortable 26% and this is well supported by cash flows. Trailing yield: 4.0%. Lower than top quartile of German dividend payers (4.7%). Lower than average of industry peers (8.3%).