Amerigo Resources Ltd. (TSE:ARG) Increases Dividend to $0.18 Per Share

Key Points

• Amerigo Resources declared a quarterly dividend of C$0.18 per share, a sharp increase from the prior C$0.04 dividend. The new payout implies a dividend yield of about 10.3%.
• The dividend is scheduled for shareholders of record on August 6, with the ex-dividend date also set for July 13.
• The stock was trading up about 1.7% at C$6.99, while recent insider filings showed multiple share sales, including a notable sale by Carmen Amezquita.

Amerigo Resources Ltd. (TSE:ARG - Get Free Report) declared a quarterly dividend on Monday, July 13th, TickerTech Dividends reports. Stockholders of record on Thursday, August 6th will be given a dividend of 0.18 per share on Thursday, August 6th. This represents a c) dividend on an annualized basis and a dividend yield of 10.3%. The ex-dividend date is Monday, July 13th. This is a 350.0% increase from Amerigo Resources's previous quarterly dividend of $0.04.

Amerigo Resources Trading Up 1.7%

Shares of ARG opened at C$6.99 on Friday. The firm has a market cap of C$1.13 billion, a P/E ratio of 24.96, a price-to-earnings-growth ratio of 0.32 and a beta of 2.15. Amerigo Resources has a 12-month low of C$2.04 and a 12-month high of C$7.39. The company's 50-day moving average price is C$6.50 and its 200 day moving average price is C$5.86.

Amerigo Resources (TSE:ARG - Get Free Report) last posted its earnings results on Wednesday, April 29th. The company reported C$0.13 EPS for the quarter. The company had revenue of C$91.99 million for the quarter. Amerigo Resources had a net margin of 15.26% and a return on equity of 42.44%. Equities research analysts forecast that Amerigo Resources will post 0.2850394 earnings per share for the current year.

Insider Transactions at Amerigo Resources

In related news, insider Carmen Amezquita sold 25,000 shares of Amerigo Resources stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of C$6.93, for a total value of C$173,250.00. Following the completion of the sale, the insider owned 8,939 shares in the company, valued at approximately C$61,947.27. This trade represents a 73.66% decrease in their position. Also, insider Kimberly Thomas sold 8,000 shares of the business's stock in a transaction that occurred on Wednesday, May 13th. The shares were sold at an average price of C$7.07, for a total value of C$56,560.00. Following the completion of the sale, the insider directly owned 22,118 shares in the company, valued at approximately C$156,374.26. The trade was a 26.56% decrease in their position. In the last three months, insiders have sold 158,000 shares of company stock worth $1,101,068. 12.95% of the stock is currently owned by insiders.

About Amerigo Resources

Amerigo is an innovative copper producer with a long-term relationship, through its fully-owned subsidiary Minera Valle Central ('MVC'), with Corporación Nacional del Cobre de Chile ('Codelco'), the world's largest copper producer. Amerigo produces copper concentrate and molybdenum concentrate as a by-product at the MVC operation in Chile by processing fresh and historic tailings from Codelco's El Teniente mine, the world's largest underground copper mine.

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