Wesdome Gold Mines Ltd, a Canadian-focused gold producer, has taken significant steps to enhance shareholder value. The company has announced a new quarterly cash dividend and expanded its share buyback program, demonstrating its financial strength and commitment to long-term growth.
These strategic moves come as Wesdome continues to leverage its high-grade underground assets, including the Eagle River mine in Ontario and the Kiena mine in Quebec. The company’s focus on responsible mining and value-driven production underpins its confidence in these initiatives.
Introduction of Quarterly Cash Dividend
On June 24, 2026, Wesdome’s Board of Directors declared a quarterly cash dividend of $0.0306 per common share payable on September 29, 2026, to shareholders of record as of September 15, 2026. This dividend is designated as an eligible dividend for Canadian income tax purposes.
The Board has also approved a dividend policy that aims to declare and pay a regular quarterly cash dividend of $0.0306 per share or $0.1224 per share on an annualized basis subject to quarterly Board approval and relevant factors. Anthea Bath, President and Chief Executive Officer, commented on the initiative, stating, “The initiation of a dividend policy reflects our financial strength, consistent free cash flow generation, and confidence in Wesdome’s long-term growth strategy.”
Bath further emphasized that the company is well-positioned to fund organic initiatives while returning capital to shareholders through both dividends and share buybacks. Since launching its buyback program in, Wesdome has repurchased 6,013,300 shares for approximately $145 million and announced its third expansion.
Dividend Reinvestment Plan and Future Considerations
In conjunction with the dividend announcement, Wesdome approved the launch of a dividend reinvestment plan (DRIP), allowing shareholders to receive additional shares in lieu of cash dividends. More information on the DRIP will be announced by September.
The declaration, amount, and payment of future dividends remain subject to the Board’s discretion and will depend on various factors, including the company’s financial results, capital requirements, and business conditions. Wesdome will review its dividend policy on an ongoing basis and may amend it at any time.
Expansion of Share Buyback Program
The Toronto Stock Exchange (TSX) approved Wesdome’s notice of intention to repurchase an additional number of common shares under its normal course issuer bid (NCIB) for the 12-month period commencing on November 7, 2026, and ending on or before November 6, 2026.
Following Board approval on October 16, 2026, Wesdome announced its intention to buy back up to 3,013,315 shares (the first tranche), representing approximately 2% of its public float. On April 28, 2026, the company completed the first tranche, repurchasing 3,013,300 shares at an average price of $22.58 per share for an aggregate consideration of approximately $68 million.
On June 23, 2026, Wesdome completed the second tranche of its NCIB, repurchasing a total of 3,000,000 shares for approximately $77 million at an average price of $25.67 per share since May 19, 2026. The repurchases were facilitated through various trading systems, including the TSX, CHIC, OMGA, XCX2, XCXD, and XTSE.
Today, the company announced that the TSX has approved its notice of intention to increase the number of common shares available for repurchase under its NCIB by up to an additional 3,000,000 shares (the third tranche) during the period from July 2, 2026, to November 6, 2026. This brings the total aggregate number of shares the company intends to repurchase up to 9,013,300 representing approximately 6% of its public float.
Wesdome believes that repurchasing shares under the NCIB is an appropriate use of its financial resources and is in the best interests of the company and its shareholders. The company will continue to be opportunistic in its approach to share repurchases, subject to market conditions and other factors.
In connection with the NCIB, on March 25, 2026, Wesdome entered into an automatic share purchase plan (ASPP) with National Bank Financial Inc. to allow for the repurchase of shares during internal trading blackout periods. The ASPP will terminate on the earliest of the date on which the purchase limit under the NCIB has been reached, the NCIB expires, or the ASPP otherwise terminates in accordance with its terms.
Purchases under the NCIB may be made through the facilities of the TSX or alternative Canadian trading systems, including through the ASPP, in accordance with applicable securities laws and TSX rules. Daily repurchases will be limited to a maximum of 182,093 shares representing 25% of the average daily trading volume on the TSX for the six-month period prior to October 16, 2026.
The timing, volume, and price of any repurchases of shares will be determined by the company in accordance with applicable laws and based on market conditions, trading price of the shares, best use of available cash, and other factors.
About Wesdome
Wesdome is a Canadian-focused gold producer with two high-grade underground assets: the Eagle River mine in Ontario and the Kiena mine in Quebec. The company’s primary goal is to responsibly leverage its operating platform and high-quality exploration pipeline to build a value-driven mid-tier Canadian gold producer.
For more information, please visit the company’s website or refer to its most recent Annual Information Form available on SEDAR+.
