Hecla Declares Common and Preferred Stock Dividends
Hecla Mining Company (NYSE:HL)
is pleased to announce its Board of Directors has elected to declare a
quarterly dividend of $0.0125 per share of common stock, payable on or
about March 25, 2013, to stockholders of record on March ?18, ?2013. The
payment includes a regular quarterly common stock dividend of $0.0025
per share and a special dividend of $0.01 per share.
'The action by Hecla′s Board to declare this regular and special
dividend reiterates Hecla′s excellent operating margin and strong
financial position,? said Hecla′s President and Chief Executive Officer,
Phillips S. Baker, Jr. 'While our average realized silver price during
this recent quarter was below $30 per ounce, which is below the
threshold for our silver price-linked dividend, prices have rebounded
above $30 and we remain confident in the silver market. Therefore the
Board has elected to declare a special common stock dividend, in
addition to the regular common stock dividend for this quarter to allow
the continued opportunity for Hecla shareholders to benefit from strong
silver prices.?
The declaration and payment of dividends remains at the sole discretion
of the Board of Directors and will depend on Hecla′s financial results,
cash requirements (including for preferred dividends, operations,
capital projects, exploration and development, litigation and
settlements, acquisitions, and other items), future prospects and other
factors deemed relevant by the Board. Investors are cautioned that this
decision is not a guarantee that a dividend will be declared or paid in
any particular period in the future.
Preferred Dividend
The Board of Directors has also elected to declare the regular quarterly
dividend of $0.875 per share on the outstanding Series B Cumulative
Convertible Preferred Stock, on a total of 157,816 shares outstanding.
This represents a total amount to be paid of approximately $138,000. The
cash dividend is payable April 1, 2013, to shareholders of record on
March ?15, ?2013.
About Hecla Mining Company
Hecla Mining Company (NYSE:HL)
is one of the largest and lowest-cost primary silver producer in the
U.S. The company has two operating mines in Alaska and Idaho and
exploration and pre-development properties in four world-class silver
mining districts in the U.S. and Mexico.
Cautionary Statements
Statements made which are not historical facts, such as anticipated
payments, litigation outcome, production, sales of assets, exploration
results and plans, prospects and opportunities including reserves,
resources, and mineralization, costs, and prices or sales performance
are 'forward-looking statements? within the meaning of the Private
Securities Litigation Reform Act of 1995. Words such as 'may,? 'will,?
'should,? 'expects,? 'intends,? 'projects,? 'believes,? 'estimates,?
'targets,? 'anticipates? and similar expressions are used to identify
these forward-looking statements. Forward-looking statements involve a
number of risks and uncertainties that could cause actual results to
differ materially from those projected, anticipated, expected or
implied. These risks and uncertainties include, but are not limited to,
metals price volatility, volatility of metals production and costs,
environmental and litigation risks, operating risks, project development
risks, political and regulatory risks, labor issues, ability to raise
financing and exploration risks and results. Refer to the company′s Form
10-K and 10-Q reports for a more detailed discussion of factors that may
impact expected future results. The company undertakes no obligation and
has no intention of updating forward-looking statements other than as
may be required by law.
Hecla Mining Company
Investor Relations:
Jim Sabala
Direct
Main: 1-800-HECLA91 (1-800-432-5291)
hmc-info@hecla-mining.com
www.hecla-mining.com
