TORONTO, Dec 13, 2001 /PRNewswire via COMTEX/ --Stock Symbols: AEM (NYSE) AGE (TSE) Agnico-Eagle Mines Limited
("Agnico- Eagle") announced today a dividend of US$0.02 per share, representing
the 22nd consecutive year that Agnico-Eagle has paid a distribution to its
shareholders.
The Company has declared a dividend of US$0.02 per share, payable March 14, 2002
to shareholders of record March 6, 2002. This year's dividend is unchanged from
that paid in 2001. 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 the LaRonde Mine.
Under the Company's Dividend Reinvestment Plan, shareholders will have the
opportunity to reinvest their dividends into shares of Agnico-Eagle.
Shareholders who have not received details of the Plan should contact the
Company or visit its website at www.agnico-eagle.com.
This press release contains certain "forward-looking statements" (within the
meaning of the United States Private Securities Litigation Reform Act of 1995)
that involve a number of risks and uncertainties. There can be no assurance that
such statements will prove to be accurate; actual results and future events
could differ materially from those anticipated in such statements. Risks and
uncertainties are disclosed under the heading "Risk Factors" in the Company's
Annual Information Form (AIF) filed with certain Canadian securities regulators
(including the Ontario and Quebec Securities Commissions) and with the United
States Securities and Exchange Commission (as Form 20-F).
Agnico-Eagle Mines Limited is an established Canadian gold producer with
operations located principally in Northwestern Quebec and exploration and
development activities in Canada and the Southwestern United States. Agnico-
Eagle's operating history includes almost three decades of gold production
primarily from underground mining operations. The Company is focused on an
expansion program at LaRonde that is expected to increase annual gold production
and reduce cash costs to produce an ounce of gold. Current proven and probable
reserves stand at 3.3 million contained ounces, with an additional 4.5 million
ounces in the mineral resource category at its LaRonde Mine.
SOURCE Agnico-Eagle Mines Limited
CONTACT: Sean Boyd, President and CEO (416) 947-1212
(AGE. AEM)
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