What’s Going on with Hecla Mining Company?
Hecla Mining Company (HL), based out of Coeur d'Alene, Idaho, has just announced that its Board of Directors is increasing its silver-linked dividend while lowering the silver price threshold. Yesterday, Sept. 7, HL stock closed at $6.14 a share, which is a 4.06% decrease in share price.
What Does This Mean for HL?
Hecla’s Board of Directors “is adding one cent for the silver-linked dividend” beginning at a new quarterly average realized silver price that has been dropped down to $20. The quarterly dividend has now increased by 33% at the $25 realized silver price threshold.
“Our further enhanced dividend policy reflects Hecla’s strong free cash flow generation from the United States’ largest and lowest cost silver mines that produce more than 40% of all the silver mined in the United States,” Hecla CEO Phillips S. Baker, Jr. remarked. “Hecla has consistently paid dividends since 2010 and has enhanced the policy three times in the last 12 months … And with the new policy shareholders receive a silver-linked dividend at a lower silver price and get a third more dividends at $25 silver.”
HL has a Short-Term Technical Rank of 36. Find out what this means to you and get the rest of the rankings on HL!
Hecla Mining Co produces and explores silver, gold, lead, and zinc. Its main silver mines include Idaho-based Lucky Friday and Greens Creek in Alaska. Hecla acquired 100% of the Greens Creek from Rio Tinto in April 2008, after holding a 29% interest for 20 years. The acquisition doubled the company's silver production. The operating business segments are the Greens Creek unit, the Lucky Friday unit, the Casa Berardi unit, the San Sebastian unit, and the Nevada Operations unit.
