The miner will resume quarterly payouts at $0.03 per share and expand its share repurchase program by $500M.
SSR Mining’s board authorized an additional $500M for share repurchases and reinstated its quarterly dividend at $0.03 per share, equating to $0.12 annually. The move follows a 1.1% post-market gain for SSRM shares on Monday.
The company had previously suspended dividends in 2022 amid volatile metal prices and operational challenges. Analysts had not widely anticipated the resumption of payouts or the expanded buyback program this quarter.
Shares rose modestly in after-hours trading as investors reacted to the dual capital return announcement.