TORONTO--(BUSINESS WIRE)--Dec. 15, 1998--Agnico-Eagle Mines
Limited (NYSE:AEM) has declared a dividend of 2
cents (U.S.) a share, payable January 26, 1999, to shareholders of
record January 15, 1999. This year's dividend of 2 cents (U.S.) a
share compares with 2 cents (U.S.) a share paid a year earlier. The
amount of the dividend payment reflects current conditions in the gold
market and management's decision to conserve cash for longer-term
development and growth of its asset base, particularly the expansion
of its LaRonde Mine.
The January 26th payment will mark the 19th consecutive annual
dividend by the Canadian based gold producer, which has gold
operations in northwestern Quebec. Agnico-Eagle's operating history
includes 24 years of continuous gold production primarily from
underground mining operations. Agnico-Eagle is currently focused on
the expansion and large scale exploration program at its LaRonde Mine
which is expected to result in increased gold and expanded reserves.
Contact:
Agnico-Eagle Mines Limited
Sean Boyd, 416/947-1212
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