AUY-NYSE $3.12 -0.33 -9.56% Volume: 31,176,562 February 16, 2018
YRI-TSX $3.93 -0.36 -8.39% Volume: 6,221,742 February 16, 2018
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Investor Q/A

Tax information relating to Brio Gold Purchase Rights

On November 30, 2016 (the “Payment Date”), YAMANA GOLD INC. (TSX:YRI) (NYSE:AUY) (“Yamana” or the “Company”) distributed rights (the “Purchase Rights”) to purchase common shares in the capital of the Company’s wholly-owned subsidiary Brio Gold Inc. (“Brio”) to Yamana shareholders of record on November 25, 2016 (the “Record Date”).  As discussed in the related Brio prospectus, dated as of November 17, 2016 (the “Prospectus”), the distribution of the Purchase Rights will be treated as a dividend by the Company for Canadian federal income tax purposes and as a distribution by the Company for U.S. federal income tax purposes in an amount equal to the fair market value of the Purchase Rights on the Payment Date.  For a more complete discussion of the Canadian and U.S. federal income tax consequences of the distribution, see “Certain Canadian Federal Income Tax Considerations” and “Certain United States Federal Income Tax Considerations” in the Prospectus, which is available under Brio’s profile on SEDAR at The dividend is an "eligible dividend" for Canadian tax purposes.

The Company has determined the fair market value of the Purchase Rights on the Payment Date as CDN$0.33, which is the closing price of the Purchase Rights on the Toronto Stock Exchange (“TSX”) on November 29, 2016, the day prior to the Payment Date. The Purchase Rights began trading on the TSX on November 23, 2016.

Yamana shareholders are urged to read the tax discussion in the Prospectus and consult with their own tax advisors regarding the tax consequences of the distribution of Purchase Rights and the determination of fair market value. 

Does Yamana participate in the (DRS) Direct Registration Program?

Yes, if you are a beneficial holder please contact your broker directly or if you are a registered holder please contact the Transfer Agent, AST Trust Company (Canada):
call toll-free: 1-800-387-0825tel
outside Canada & US: +1-416-682-3860tel

The Company is now providing shareholders with the option to receive an electronic payment of dividends through its Transfer Agent, CST Trust Company. Information and instructions on how to participate can be obtained through the Transfer Agent, CST Trust Company.

Does Yamana have a Dividend Reinvestment Plan?

The Company has adopted a Dividend Reinvestment Plan (“DRIP”) commencing with the first quarter 2015 dividend. 

Participation in the DRIP is optional. Participants in the DRIP may obtain additional common shares of the Company by automatically reinvesting all or any portion of the cash dividends paid on common shares held by the DRIP participant without paying any brokerage commissions, administrative costs or other service charges. The Company may, from time to time, in its discretion, direct that such common shares be purchased in the open market on the Toronto Stock Exchange or the New York Stock Exchange at the prevailing market price, any of which would be publicly announced, rather than issuing such common shares from treasury.

The enrollment form is available for downloading below and under Yamana’s profile on CST’s website at   

DRIP Enrollment Form Download

Yamana Dividend Reinvestment Plan


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Yamana discloses certain non-GAAP measures including Cash costs per ounce of gold, Cash costs per ounce of silver, Co-product cash costs per ounce of gold, Co-product cash costs per ounce of silver, Co-product cash costs per pound of copper, All-in sustaining costs per ounce of gold, All-in sustaining costs per ounce of silver, All-in sustaining co-product costs per ounce of gold, and All-in sustaining co-product costs per ounce of silver to supplement its Consolidated Financial Statements, which are presented in accordance with IFRS. The term IFRS and generally accepted accounting principles (“GAAP”) are used interchangeably. The Company believes that these measures, together with measures determined in accordance with IFRS, provide investors with an improved ability to evaluate the underlying performance of the Company. Non-GAAP measures do not have any standardized meaning prescribed under IFRS, and therefore they may not be comparable to similar measures employed by other companies. The data is intended to provide additional information and should not be considered in isolation or as a substitute for measures of performance prepared in accordance with IFRS.

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