03:03 PM EDT, 06/11/2025 (MT Newswires) -- Montero Mining and Exploration ( MXTRF ) was slightly higher Wednesday afternoon after announcing that its shareholders have approved the previously announced return of capital to shareholders.

A statement noted this will be done through a cash distribution of near $15.04 million, paid out pro rata to shareholders by reducing the company's stated capital, with each shareholder to receive $1.80 per common share. There is a record date of June 24, 2025, and payment date of July 3, 2025.

Tuesday's statement noted the funds come from part of the net proceeds received from its US$27 million settlement with the United Republic of Tanzania, which resolved a dispute related to the expropriation of the Wigu Hill rare earth project.

The company was last trading up $0.01 at $1.88 a share.

Price: 1.88, Change: +0.01, Percent Change: +0.53