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Kirkland Lake Gold's final quarterly dividend of 2020 up 50% over previous quarter

Dec 17, 2020

Kirkland Lake Gold Ltd. (“Kirkland Lake Gold” or the “Company”) (TSX:KL) (NYSE:KL) (ASX:KLA) today announced that a quarterly dividend payment for the fourth quarter of 2020 (“Q4 2020”) of US$0.1875 per common share will be paid on January 14, 2021 to shareholders of record as of the close of business on December 31, 2020. The US$0.1875 per share payment represents a 50% increase in the quarterly dividend from the previous payment of US$0.125 per share, paid on October 14, 2020 to shareholders of record on September 30, 2020. The Q4 2020 payment represents the 15th quarterly dividend payment made to shareholders following the Company’s adoption of a dividend policy in March 2017. The Company’s quarterly dividend qualifies as an “eligible dividend” for Canadian income tax purposes. For Canadian shareholders, the US dollar dividend payment will be converted to Canadian dollars using the spot price exchange rate on January 13, 2021, the day prior to the payment date.

Returning capital to shareholders is an important strategic priority for Kirkland Lake Gold. To date in 2020, the Company has paid $116 million in dividend payments. The Company has also repurchased a total of 16.2 million shares through its normal course issuer bid for $618 million (C$830 million). In total, the Company has returned $734 million, or $2.71 per share, to shareholders so far in 2020 through dividend payments and share repurchases. The $734 million returned to shareholders represents $734 per ounce of production during the first nine months of 2020 (1,000,218 ounces).

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