Dividend policy

The board of directors can declare dividends at its discretion. In November 2005, our board of directors approved the adoption of a dividend policy that would pay annual dividends of $0.20 per share to common shareholders. Under the policy, dividends will be paid semi-annually, $0.10 per common share on June 15 and $0.10 per common share on December 15 of each year.

We believe this dividend is at a level we can maintain as copper prices fluctuate.

The Company’s ability to pay dividends would be restricted if an event of default occurs under a guarantee into which it has entered.

Dividend taxation

The federal Income Tax Act, and most provincial income tax legislation, provides lower levels of taxation for Canadian individuals who receive eligible dividends. All of the dividends paid by Inmet in 2006 are eligible dividends and all dividends paid hereafter will be eligible dividends unless otherwise indicated.

Usual dividend dates

Dividend history