According to Mining News Pro - During the fourth quarter alone, Pan American generated $129.5 million from operating activities, the highest in company history. The miner also posted revenues of $404.4 million in the fourth quarter – a 130% improvement on the previous year – and $1.35 billion for the full year, which was 70% higher than 2018.

Net earnings for the quarter totalled $51.7 million, compared with a $63.6 million loss in the prior-year quarter. For the 12 months, net earnings came to $111.2 million, up from $12.04 million in 2018. Adjusted net earnings were $68.9 million and $158 million, respectively.

Based on those results, Pan American’s board of directors has decided to increase the quarterly dividend by 43% to $0.05 per common share, for about $10.5 million in total cash dividends payable on March 12.

In 2019, Pan American increased its silver production from 24.8 million ounces to 25.9 million ounces and gold production from 178,900 ounces to 559,200 ounces, at an all-in sustaining cost of $10.46/oz in the silver segment and $948/oz in the gold segment.

“In 2020, we are expecting silver and gold production growth of approximately 7% and 16%, respectively,” President and CEO Michael Steinmann stated in a media release.