Southridge Declares Cash Dividend And Discusses Future Operations
DALLAS, Nov. 5, 2012 /PRNewswire/ -- Southridge Enterprises Inc. (PINKSHEETS: SRGE) ("Southridge" or the "Company") is pleased to announce today that Southridge Minerals, Inc., its wholly owned subsidiary, today announced a cash dividend of $0.00003 per common share, payable on November 22, 2012 to shareholders of record at the close of business November 15, 2012. The dividend represents a payout of just over 5% of the recently reported quarterly net income.
"While it is unusual for a Company like Southridge to declare a cash dividend at this stage of development, we felt that it was the right thing to do for our shareholders given the Company's current cash position and outlook," said Michael Davies, the President & CEO of SRGE. "The Company is currently in production at our Cinco Minas mine and is conducting an aggressive exploration program at our Gran Cabrera gold & silver property. We thought it was important to reward our shareholders with a cash dividend, as they have been very patient while Southridge has evolved into a precious metals producer. Southridge is in an excellent position now generating positive cash flows. Consequently, the Company is moving forward weighing its business direction options and is exploring and discussing partnership opportunities."
For further information on the Company's Gold and Silver projects, visit our website: http://www.southridgeminerals.com.
Southridge Investors can access the following Southridge Minerals social media channels:YouTube Cinco Minas Mexico Project: http://youtu.be/R6P8oght4Ik http://youtu.be/o2LfLaSu8ww Facebook: http://www.facebook.com/pages/Southridge-Minerals-Inc/163457600376466 Twitter: http://twitter.com/SouthridgeSRGE About Southridge Minerals, Inc. (SRGE)Southridge Minerals, Inc. is a U.S.-based mineral exploration company dedicated to acquiring and developing mineral resources in geologically permissible and politically stable areas of the world. The Company seeks out early stage opportunities with good mineralization indicators that exhibit significant blue-sky potential. Southridge pursues and advances these projects that are or will be of interest to mid-size and major producers. By forming alliances on individual projects, the Company expects to develop its interests in mines operated by its partners, allowing it to continue to build value through continued exploration. Southridge is currently focused on projects in Mexico. What sets Southridge apart is its vast experience in Mexico and the knowledge of the geological conditions and formations pertaining to known large gold deposits that have received very little attention to date. This comparative advantage, combined with a specific geographical and mineral focus, will allow for more efficient asset and income growth in the future for the benefit of shareholders' investments. Forward-Looking StatementsAlthough the Company believes that the forward-looking statement of beliefs, plans, expectations, and intentions contained in this press release are reasonable, there can be no assurance those beliefs, plans, expectations or intentions will prove to be accurate. Investors should consider all of the information set forth herein and should also refer to the risk factors disclosed in the Company's published current and periodic reports.
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
24/7 market commentary from Jim Cramer and 20+ veteran Wall Street gurus. Get access to the latest trading ideas on stocks, options, and ETFs as well as a real-time forum to see the pros exchanging their investment ideas.
- Jim Cramer + 20 Wall Street pros
- Intraday commentary & news
- Real-time trading forum
- Actionable trade ideas
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV