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LEXINGTON, Ky., March 17, 2025 /PRNewswire/ -- Ramaco Resources, Inc. (NASDAQ: METC, METCB, "Ramaco" or the "Company") today announced that its Board of Directors has declared a dividend for the second quarter of fiscal year 2025 relating to its Class A common shares to shareholders of record on May 30, 2025 (the "Record Date"). The dividends will be paid in Class B common stock and issued on June 13, 2025 (the "Payment Date").
The Board approved and declared the quarterly Class A common stock dividend of $0.06875 per share of Class A common stock. Given that this payment will occur in the form of Class B shares, Class A holders will receive a number of shares of Class B common stock for each share of Class A common stock determined by dividing $0.06875 by the closing transaction price of the Class B common stock on May 30, 2025.
No fractional shares will be issued in connection with the above-described stock dividend. In lieu of the issuance of fractional shares, the Company will pay in cash on the Payment Date the fair value of the fractions of a share issuable, determined as of the close of Nasdaq on the Record Date and based upon the closing transaction price per share of the Class B common stock reported by Nasdaq on that date.
Randall Atkins, Ramaco's Chairman and CEO noted, "The current metallurgical coal market conditions are weak, and we expect they will remain so for several more months. As such the Board elected to take the prudent measure to maintain maximum liquidity and reduce this quarter's dividend level and to pay it again in Class B stock. Even at a reduced level, the roughly 3% dividend yield still represents by far the highest dividend yield among our publicly traded metallurgical coal peers. We maintain strong liquidity on our balance sheet and are positioned to both cautiously manage cash should the markets exhibit continued weakness or alternatively to take advantage of opportunities in the coal markets should supply rationalization continue. We remain cautiously optimistic that during the second half of the year the markets will strengthen amidst rising supply cuts in the metallurgical space. We will then consider raising the dividend to its previous cash levels as market conditions warrant."
ABOUT RAMACO RESOURCES
Ramaco Resources, Inc. is an operator and developer of high-quality, low-cost metallurgical coal in southern West Virginia, and southwestern Virginia and a developing producer of rare earth and critical minerals in Wyoming. Its executive offices are in Lexington, Kentucky, with operational offices in Charleston, West Virginia and Sheridan, Wyoming. The Company currently has four active metallurgical coal mining complexes in Central Appalachia and one developmefrom coal. In connection with these activities, it holds a body of roughly 60 intellectual property pant rare earth and coal mine near Sheridan, Wyoming in the initial stages of production. In 2023, the Company announced that a major deposit of primary magnetic rare earths and critical minerals was discovered at its mine near Sheridan, Wyoming. Contiguous to the Wyoming mine, the Company operates a carbon research and pilot facility related to the production of advanced carbon products and materials tents, pending applications, exclusive licensing agreements and various trademarks. News and additional information about Ramaco Resources, including filings with the Securities and Exchange Commission, are available at https://www.ramacoresources.com. For more information, contact investor relations at (859) 244-7455.