Glen Eagle Resources – A Discussion On The Plant Expansion
To follow up on the news out yesterday from Glen Eagle Resources regarding the upcoming Q3 cash flow numbers I am joined by the President and CEO Jean Labrecque. We briefly touch on the expected cash flow for this quarter but also look ahead to the continued production plant expansion. It is also noteworthy that insiders are continuing to buy shares in the open market.
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Hi CFS, I will be sure to ask Jean about this next time we chat. There was a note in the last release about that proposed dividend. Unfortunately there is not much clarity for your question…
“The Company also announced on June 15, 2017 that the issuance of an extraordinary dividend was proposed at its Annual General Meeting and that discussion of same to take place at the next Board Meeting, which will be held on September 27, 2017.”
I don’t think they have paid out yet.
I got on board in July.If memory serves me correct I think it either October or November.
I think you are right. The meeting that was yesterday most likely would have included a more timely discussion about when this dividend will happen.
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Thanks , …….almost missed it……
Glen Eagle to Consider the Issuance of an Extraordinary Dividend to Its Shareholders
MONTREAL, QUEBEC–(Marketwired – June 29, 2017) – Glen Eagle Resources Inc. (TSX VENTURE:GER) (“Glen Eagle” or the “Company”) is pleased to announce that strong shareholder support was received at the Company’s Annual General Meeting held last week in Montreal.
As part of the agenda, the shareholders supported the motion to have an extraordinary dividend being disbursed before the end of 2017. The Company’s Board of Directors will discuss the extraordinary dividend when it meets in early August as a follow up to the AGM meeting and will assess the timing, amount of the dividend and the record date. The decision will be based on Glen Eagle’s proforma financial projections for the remainder of the year and the confidence that production and cash flow should increase substantially as the plant expansion and process optimization nears completion.
Glen Eagle remains confident that it will generate sufficient cash flow in the coming months that would warrant the issuance of a competitive extraordinary dividend to thank its shareholders who were instrumental in the production run-up of Cobra Oro processing plant.
This News Release is issued in compliance with National Instrument 51-101 Continuous and Timely Disclosure of material information with the purpose to place all participants in the market on an equal footing.
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I can find no record of a dividend payment.