FAQs

Learn more about Industrias Peñoles

Dividends

What is Peñoles' dividend payment policy?

Subject to final decision of the Board of Directors, and according to the powers, if granted, by the corresponding Shareholders' Meetings, Peñoles usually pays out up to 50% of the consolidated net income of the previous year as dividend distribution.

Dividends are declared and paid in Mexican pesos.

Reserves

How extensive are the mineral reserves of Peñoles’ mines?

As of December 31st, 2020 metal contents in proven and probable reserves, including those attributable to Fresnillo plc, and their change with respect to previous year were as follows:

  • Gold: 9.8 million ounces (-5.3%)
  • Silver: 716.5 million ounces (+2.3%)
  • Lead: 1,756 thousand tons (+1.9%)
  • Zinc: 5,718 thousand tons (-12.9%)
  • Copper: 367 thousand tons (-31.2%)

Investors

How do Peñoles’ shares work?

Peñoles' shares are registered on the National Securities Registry and trade on the Mexican Stock Exchange under the ticker symbol PE&OLES.
Shares are subject to public trading within the Mexican territory. Price depends on the market conditions according to laws of supply and demand, therefore it can vary from time to time.

Shares may be acquired by individuals and/or corporations. Shares can not be subscribed, acquired or possessed by States, Sovereign or Foreign Governments.
Investors with full capacity pursuant to the Mexican Securities Law interested in acquiring or selling shares can do so through an authorized brokerage firm, who will submit the purchase/sale order using the electronic means provided by the Mexican Stock Exchange for such purpose.

Ownership of one or more shares means acceptance of the terms and provisions of the Company's bylaws including its amendments and reforms, as well as of the resolutions taken on the Annual General Shareholders' Meetings and Board Meetings within their respective powers and faculties.

All outstanding shares confer equal rights and responsibilities to their owners, representing one vote per share on the Shareholders' Meetings, without limitations.
The capital stock of the Company is variable. Minimum fixed capital stock is represented by nominative, common shares, with no par value, that integrate Class I. Variable capital stock is represented by Class II shares. There are no Class II shares currently outstanding.

At every time, at least 51% ownership of shares representing capital stock must be subscribed by individuals or corporations that under the Foreign Investment Act qualify as Mexican investors.

Ownership of stock may be transferred by endorsement of the respective security or through any other legal means. Any ownership or transmission will be recognized by the Company only when inscribed in the share register by the Secretary of the Board of Directors. No transmissions will be recognized within the period a dividend is declared and the date of its payment.

All transmission of ownership may be bound as unconditional without reserve, with the exception of repurchase agreements and acquisitions of own stock made by the Company. Therefore any person acquiring one or more shares assumes all the rights and obligations as shareholder with respect to the Company.

Hedging

What is the Peñoles' hedging strategy?

Peñoles uses hedging to reduce its EBITDA volatility. Through derivative financial instruments the Company reduces its exposure to negative changes in the value of hedged variables, such as metal prices, certain key inputs for operations, interest rates and foreign currency rates.

To minimize its counterparty credit risk, Peñoles enters into agreements only with well-known, well-recognized and financially strong institutions.
Hedging decisions are taken jointly by the members of the Finance and Planning Committee.

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