B2Gold Announces Amended Shareholder Return Strategy, including New Dividend Framework and Intention to Implement a Normal Course Issuer Bid

Core Viewpoint - B2Gold Corp. has amended its shareholder returns strategy to enhance financial flexibility during its current phase of organic growth, which includes the anticipated production commencement from Fekola Regional in Mali and the completion of the Goose Mine in Canada [1] Dividend Framework - The company has reduced its intended quarterly dividend rate from $0.04 per common share ($0.16 annually) to $0.02 per common share ($0.08 annually) [2] - Since initiating its first dividend in 2020, B2Gold has paid approximately $870 million in dividends, primarily funded by strong free cash flow from its operating mines [3] Financial Flexibility and Growth - The decision to modify the dividend is based on funding requirements for ongoing projects, including the Goose Mine and the Antelope deposit at the Otjikoto Mine, as well as de-risking activities at the Gramalote Project [4] - The amended dividend level is intended to provide additional financial flexibility while still offering a sustainable dividend to shareholders, with a pro forma dividend yield of 3.3% as of December 31, 2024 [5] Management Commentary - Clive Johnson, President and CEO, emphasized the importance of maintaining a strong financial position and flexibility for internal growth projects as the company enters a phase of organic production growth [6] Normal Course Issuer Bid (NCIB) - B2Gold plans to implement a normal course issuer bid to repurchase up to 5% of its outstanding common shares, subject to TSX approval [8] - The NCIB is expected to begin in the first quarter of 2025 and will allow the company to purchase shares at prevailing market prices, with the intention of canceling the repurchased shares [9][10] - The decision to approve the NCIB aligns with the company's amended shareholder return strategy, reflecting a belief that the market may undervalue its shares [11] Company Overview - B2Gold is a low-cost international senior gold producer with operating mines in Mali, Namibia, and the Philippines, and is constructing the Goose Project in Canada [13] - The company forecasts total consolidated gold production of between 970,000 and 1,075,000 ounces in 2025 [13]