Ramaco Resources, Inc. (NASDAQ: METC) has recently made key announcements regarding dividends and future guidance. On December 5, 2024, the company issued a press release detailing its plans for the upcoming period.
The board of directors of Ramaco Resources approved and declared a stock dividend of $0.1375 per share of Class A common stock. This dividend will be payable in shares of the Company’s Class B common stock on March 14, 2025, to shareholders of record as of the close of Nasdaq on February 28, 2025. The number of shares to be issued per share owned will be determined based on the closing transaction price of the Class B common stock on the record date. Notably, no fractional shares will be issued, and the company will pay cash for the value of any fractional shares.
On the operational front, Ramaco Resources provided initial guidance for the 2025 calendar year. The company expects full-year sales volumes between 4.4 – 4.8 million tons, with an ability to sell at least 5 million tons, subject to market conditions. Production volumes for the year are estimated to be in the range of 4.2 – 4.6 million tons, with plans for continued growth at its Elk Creek and Berwind complexes partially offset by reduced production at its Knox Creek Complex due to mine closures.
The financial outlook for 2025 includes sales commitments of 2.9 million tons as of November 30, 2024, with projected cash cost of sales in the range of $97 – $103 per ton. Capital expenditures in 2025 are anticipated to be between $60 – $70 million, with various cost and expense projections for the year detailed in the company’s update.
The company’s dividend payments and operational projections are significant factors in its strategic approach for the upcoming year, aiming for growth and stability in its operations.
The press release containing this information is available as Exhibit 99.1 in the company’s recent SEC filing. This disclosure is not considered filed under any of the Securities Exchange Act rules and is not incorporated into any registration statements.
This article contains forward-looking statements that are subject to risks and uncertainties. Investors and stakeholders are advised to refer to Ramaco Resources’ SEC filings for a detailed understanding of the risk factors associated with these statements.
This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Ramaco Resources’s 8K filing here.
About Ramaco Resources
Ramaco Resources, Inc engages in the development, operation, and sale of metallurgical coal. Its development portfolio includes the Elk Creek project that covers an area of approximately 20,200 acres located in southern West Virginia; the Berwind property covering an area of approximately 62,500 acres situated on the border of West Virginia and Virginia; the Knox Creek property, which covers an area of approximately 64,050 acres is located in Virginia; the Maben property covering an area of approximately 28,000 acres situated in southwestern Pennsylvania southern West Virginia; and the Brook Mine property that covers an area of approximately 16,000 acres located in northeastern Wyoming.
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