Equinox Gold Corp. Announces Record‑Setting 2025 Performance and New Dividend Policy
Equinox Gold Corp. (TSX: EQX, NYSE American: EQX) disclosed its unaudited financial and operating results for the quarter ended December 31, 2025, and for the full year. The company’s leadership highlighted a series of strategic milestones that have positioned Equinox as a tier‑one North American gold producer.
Strategic Merger and Portfolio Optimization
The merger with Calibre Minerals Corp. created a focused gold operation anchored by two new long‑life Canadian mines. This transaction was a key catalyst for the company’s transformation, enabling a sharper geographic concentration and a more efficient asset base. Simultaneously, Equinox divested a portfolio of non‑core assets in Brazil, a move that delivered over US$1.1 billion in proceeds. The proceeds were immediately deployed to retire more than US$800 million of debt, resulting in a total balance‑sheet improvement of more than US$1 billion within a six‑month period.
Production and Revenue Highlights
Equinox reported first commercial gold production from the Valentine mine ahead of schedule, overcoming early ramp‑up challenges at the Greenstone operation. The company’s record production and revenue figures reflect the successful integration of the Calibre assets and the operational efficiencies realized at Greenstone and Valentine. While the full audited statements are pending, the preliminary results demonstrate robust momentum and a clear trajectory toward higher operating cash flow.
Inaugural Dividend and Share‑Repurchase Program
On February 18, 2026, the Board declared an inaugural quarterly cash dividend of US$0.015 per common share, payable on March 26, 2026 to shareholders of record on March 12, 2026. This dividend represents the first distribution to equity holders and signals Equinox’s confidence in its cash‑generation capability. The dividend policy, if maintained, would translate to an annual payout of US$0.06 per share.
Concurrently, Equinox applied for a normal‑course issuer bid, allowing the purchase of up to 5 % of outstanding shares on the Toronto Stock Exchange. This program underscores the company’s commitment to shareholder value creation and capital allocation discipline.
Market Positioning and Outlook
With a market capitalization of CAD 16.14 billion and a share price that has trended toward its 52‑week high of CAD 23.49, Equinox is well‑positioned to capitalize on favorable gold prices and ongoing mine development. The company’s focus on high‑grade, long‑life assets in politically stable jurisdictions provides a durable platform for future growth.
Equinox Gold’s strategic realignment, debt reduction, and inaugural dividend position the company for a stronger balance sheet and an enhanced capacity to reward shareholders. Analysts anticipate that the company’s operational efficiencies and disciplined capital management will translate into sustained earnings growth as production ramps continue across its North American portfolio.
