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Enter Symbol
or Name
USA
CA



Banro Corp
Symbol BAA
Shares Issued 252,100,672
Close 2015-03-05 C$ 0.285
Market Cap C$ 71,848,692
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Banro lays out calculations for dividends

2015-03-06 02:58 ET - News Release

An anonymous director reports

BANRO PROVIDES INFORMATION FOR HOLDERS OF SERIES A PREFERENCE SHARES OF BANRO AND PREFERRED SHARES OF BANRO GROUP (BARBADOS) LIMITED

Banro Corp. is notifying holders of Series A preference shares of Banro and holders of preferred shares of Banro Group (Barbados) Ltd. of the following information necessary to calculate the amount of dividends payable on such shares in respect of the Sept. 30, 2014, dividend payment date. This information is being provided as per the requirements of the articles of Banro and Banro Group (Barbados). Defined terms in this press release which are not otherwise defined shall have the meaning given to them in such articles.

  • The simple average of the reference gold price during the three-month period ended on June 30, 2014, is $1,289 (U.S.).
  • The relevant number for the purposes of the calculation of the dividend liquidation preference is 0.017501.
  • There were no dividends accrued and unpaid on the Banro Series A shares or the Barbados preferred shares immediately prior to Sept. 30, 2014.
  • The monthly production level for the second quarter of 2014 was 7,630 ounces of gold per month, such that the annual dividend yield in respect of the Sept. 30, 2014, dividend payment date is 10.0 per cent.

It is expected that the subject accrued dividends will be paid on March 20, 2015.

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