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    Alamos Gold increases semi-annual dividend 43%; reports record Q4 earnings

    By The Canadian Press | The Canadian Press – Thu, 23 Feb, 2012

    TORONTO - Alamos Gold Inc. (TSX:AGI) announced a 43 per cent increase in its semi-annual dividend Wednesday as the Canadian-based miner with operations in Mexico and Turkey reported record fourth-quarter earnings.

    Alamos said net income in the three months ended Dec. 31 was US$21.3 million or 18 cents per share, up 16 per cent from US$18.3 million or 16 cents per share in the same prior-year period.

    Earnings from mine operations were US$44.4 million, up from US$36.8 million in the 2010 period.

    On a full-year basis, profits were US$60.1 million or 51 cents per share on earnings from mine operations of $138.9 million, compared with profits of $63.8 million or 55 cents per share on mine operations earnings of $113.1 million in 2010.

    Alamos Gold said the increase in its semi-annual dividend to 10 cents per share from seven cents is payable April 30 to shareholders of record as of the close of business April 13.

    Based on Wednesday's closing stock price of $19.95 on the Toronto Stock Exchange, that would produce an annual yield of one per cent.

    The company said it produced 46,500 ounces of gold at a cash operating cost of US$387 an ounce of gold sold, with total cash costs inclusive of royalties of $471 per ounce.

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