Hecla Mining Company ( NYSE:HL) is pleased to announce its Board of Directors has elected to declare a quarterly dividend of $0.0125 per share of common stock, payable on or about March 25, 2013, to stockholders of record on March 18, 2013. The payment includes a regular quarterly common stock dividend of $0.0025 per share and a special dividend of $0.01 per share.
“The action by Hecla’s Board to declare this regular and special dividend reiterates Hecla’s excellent operating margin and strong financial position,” said Hecla’s President and Chief Executive Officer, Phillips S. Baker, Jr. “While our average realized silver price during this recent quarter was below $30 per ounce, which is below the threshold for our silver price-linked dividend, prices have rebounded above $30 and we remain confident in the silver market. Therefore the Board has elected to declare a special common stock dividend, in addition to the regular common stock dividend for this quarter to allow the continued opportunity for Hecla shareholders to benefit from strong silver prices.”
The declaration and payment of dividends remains at the sole discretion of the Board of Directors and will depend on Hecla’s financial results, cash requirements (including for preferred dividends, operations, capital projects, exploration and development, litigation and settlements, acquisitions, and other items), future prospects and other factors deemed relevant by the Board. Investors are cautioned that this decision is not a guarantee that a dividend will be declared or paid in any particular period in the future.
Preferred DividendThe Board of Directors has also elected to declare the regular quarterly dividend of $0.875 per share on the outstanding Series B Cumulative Convertible Preferred Stock, on a total of 157,816 shares outstanding. This represents a total amount to be paid of approximately $138,000. The cash dividend is payable April 1, 2013, to shareholders of record on March 15, 2013.