Pan American Silver Corp. (
) recorded a net loss of $29.4 million, or $0.24 per diluted share,
for the fourth quarter 2012 versus a net income of $95.5 million,
or $0.89 per diluted share, in the same period last year.
Revenues were $247.3 million, up from $212.4 million in the
prior-year period but below consensus estimate of $276.5
For the full year 2013, the company plans to make $157 million
in capital investments.
The company's Board of Directors also approved the first
quarterly cash dividend of 2013 and increased the amount of the
quarterly cash dividend by 150% to $0.125 per common share. The
dividend will be distributed on or about Monday, March 18, 2013 to
holders of record of common shares as of the close of business on
Monday, March 4, 2013.
PAA was up nearly 3% to $16.27 despite the announcement, trading
close to year low $13.79.
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