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Hecla Mining Maintains FY20 Production View; Declares Dividend

(RTTNews) - Hecla Mining Co. (HL), while reporting narrower net loss and higher sales in its second quarter on higher production and prices, maintained its annual silver and gold production and cost guidance.

In pre-market activity on the NYSE, Hecla Mining shares were gaining 3.4 percent to trade at $6.64.

Phillips Baker, Jr., Hecla's President and CEO said, "Despite the pandemic, Hecla had its second highest quarterly silver production since 2016 which, combined with higher prices, resulted in almost 25 percent more revenue than a year ago and generated about $27 million of free cash flow."

Further, the company's Board of Directors elected to declare a quarterly cash dividend of $0.0025 per share of common stock, payable on or about September 1, to shareholders of record on August 19.

The realized silver price was $18.44 in the second quarter and therefore did not satisfy the criteria for a larger dividend under the dividend policy.

The Board declared a quarterly cash dividend of $0.875 per share of preferred stock, payable on or about October 1, to shareholders of record on September 15.

Hecla also announced that Mike Westerlund, Vice President of Investor Relations, is leaving the company effective August 14. A search is underway for a replacement.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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