07:47 AM EDT, 03/24/2025 (MT Newswires) -- MAG Silver ( MAG ) on Monday reported a higher profit for fiscal 2024 as the contribution from the Juanicipio Mine in Mexico increased and said it will pay its first dividend.

Net income for fiscal 2024 rose to US$77.8 million, or US$0.75 per share, from US$47.8 million, or US$0.47 per share, last year.

The contribution from the Juanicipio mine in Mexico, of which MAG has a 44% stake, increased to US$93 million, from the previous year's US$65 million, the company said. Fresnilio, which owns the remaining 56% of Juanicipio, reported that 2025 silver production at the mine is expected to range between 14.7 million and 16.7 million ounces yielding between 13.1 million and 14.9 million payable ounces.

MAG will play the inaugural fixed quarterly dividend of $0.02 per share and an additional cash flow linked dividend of $0.16 per share on April 21 to shareholders of record on April 4.