Morien Resources Corp. said Dec. 12 that its board approved the implementation of a dividend policy, starting with an inaugural dividend of 0.5 Canadian cent per common share to be paid Dec. 27 to shareholders on record as of Dec. 20.
As part of the policy, the company plans to pay quarterly dividends of 0.25 cent per common share in 2018, while dividends beyond this period will be calculated based on the company's cash flow available for distribution as the Donkin coal mine in Nova Scotia ramps up production.
The declaration, amount and timing of any future dividends remain at the discretion of Morien's board.
