04:43 PM EST, 11/05/2025 (MT Newswires) -- Torex Gold Resources ( TORXF ) said after trade on Wednesday it is launching a return of capital program, consisting of a quarterly dividend of C$0.15 per share and share buybacks.

The company will pay an inaugural quarterly dividend of C$0.15 per share on Dec. 4, to shareholders of record as at the close of business on Nov. 20.

The current normal course issuer bid expires on Nov. 20. Torex intends to renew the program for another year on substantially the same terms. I said it returned $10 million through share repurchases in the third quarter. Torex bought back 239,204 shares at an average price of $41.79 per share over the period.

"With the pivot back to positive free cash flow in June, the ramp-up of Media Luna tracking to plan, and modest levels of debt outstanding, the time is right to return capital to our shareholders through a sustainable quarterly dividend and opportunistic share repurchases," said chief executive Jody Kuzenko. "The return of capital plan announced today represents the first step towards a broader program, one which we expect to evolve through 2026 as our balance sheet continues to strengthen.

Torex Gold closed up $2.35 to $57.05 on the Toronto Stock Exchange.