Quarterly Dividends
The Foundation of the Capital Return Strategy
Amerigo's quarterly dividend of Cdn$0.04 per share is the foundation of the Company's Capital Return Strategy, providing shareholders with a consistent and sustainable cash return through commodity cycles.
Amerigo maintains a minimum cash target, currently $30 million, to support stable operations and financial flexibility. With cash balances above this level, the Company continues to maintain the quarterly dividend while preserving a strong balance sheet.
Performance Dividends
The Flexibility Engine of the Capital Return Strategy
Performance dividends provide a flexible mechanism for returning excess cash to shareholders after maintaining Amerigo's minimum cash target of $30 million.
They complement the quarterly dividend by allowing the Company to return additional cash when it is generated, rather than retaining excess balances on the balance sheet. Since the launch of the Capital Return Strategy, Amerigo has declared performance dividends of Cdn$0.04 per share in July 2024, Cdn$0.05 per share in December 2025, Cdn$0.16 per share in April 2026 and Cdn$0.18 per share in July 2026.
Together with quarterly dividends and opportunistic share buybacks, performance dividends help maximize Total Yield while preserving Amerigo's financial strength and operational flexibility.
Share Buybacks
The Ownership Protector of the Capital Return Strategy
Share buybacks are an important component of Amerigo's Capital Return Strategy. When the Board believes the Company's shares represent an attractive value relative to the business and alternative uses of capital, Amerigo may repurchase shares through a Normal Course Issuer Bid ("NCIB") or other approved programs.
By reducing the number of shares outstanding, buybacks increase each remaining shareholder's proportional ownership in the Company and enhance future per-share participation in dividends, performance dividends and cash flow generation.
Since the launch of the Capital Return Strategy in 2021, Amerigo has completed multiple share repurchase programs and reduced its shares outstanding by approximately 15%. All shares repurchased by the Company are cancelled.
Amerigo's current NCIB commenced on December 2, 2025 and expires on December 1, 2026. The Company intends to use the NCIB opportunistically, taking into account market conditions, the Company's financial position and alternative capital allocation opportunities.
Together with quarterly dividends and performance dividends, share buybacks form part of Amerigo's disciplined Capital Return Strategy, which is designed to maximize Total Yield while maintaining a strong balance sheet and financial flexibility.
Our Track Record
$70.7M Quarterly Dividends | $51.5M Performance Dividends l $39.1M Share Buybacks
Since launching the Capital Return Strategy, Amerigo has returned $161.3 million to shareholders through dividends and share buybacks. This includes $70.7 million in quarterly dividends, $51.5 million in performance dividends and $39.1 million used to repurchase and cancel 27.45 million common shares.
Amerigo's disciplined approach to capital allocation combines using the tools under the CRS with the objective of maximizing Total Yield while maintaining a strong balance sheet and financial flexibility.
The Company currently has an active Normal Course Issuer Bid that commenced on December 2, 2025 and expires on December 1, 2026.
Reducing Share Count with Buybacks
A share buyback program is a valuable component of a multi-faceted capital return strategy. A share buyback program allows the Company to opportunistically take advantage of periods of share price weakness and reduce the number of shares available in the market. This lends positive support to the Company’s share price.
Over time, a sustained commitment to reducing the number of outstanding shares will have recognizable benefits to remaining shareholders. All else being equal, a fixed amount of capital being returned to fewer shares means more cash for those remaining shareholders.
