(RTTNews) - Lundin Mining Corporation (LUMI, LUN.TO) announced that the Toronto Stock Exchange has accepted its notice to renew the Company's normal course issuer bid (NCIB). As part of its shareholder distribution policy, Lundin Mining is committed to delivering returns through a balanced mix of dividends and share buybacks, with a total annual allocation of approximately US$220 million. The Company will pay a quarterly dividend of C$0.0275 per common share and allocate up to $150 million annually for share repurchases under the NCIB. Any shortfall in buybacks will be returned to shareholders as a special dividend, paid alongside the regular fourth-quarter dividend.
Under its previous NCIB, which began on December 16, 2024, and expires on December 15, 2025, Lundin Mining was authorized to acquire up to 57.60 million common shares. As of December 5, 2025, the Company had repurchased 17.47 million shares for cancellation at an average price of C$13.09 per share, including 14,229,000 shares purchased since January 1, 2025.
The newly approved NCIB will allow Lundin Mining to purchase up to 67.72 million common shares, representing 10% of the 855.77 million issued and outstanding shares as of December 4, 2025, excluding shares held by insiders and major shareholders. The program will run for twelve months starting December 16, 2025, and will expire no later than December 15, 2026.
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