YAMANA GOLD REPORTS RECORD THIRD QUARTER 2010 RESULTS

YAMANA GOLD REPORTS RECORD THIRD QUARTER 2010 RESULTS

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RECORD REVENUE, RECORD OPERATING EARNINGS AND RECORD CASH FLOW

TORONTO, Nov. 3 /CNW/ - YAMANA GOLD INC. (TSX:YRI; NYSE:AUY; LSE:YAU) today announced its financial and operating results for the third quarter ended September 30, 2010. All dollar amounts are expressed in United States dollars unless otherwise specified.


Financial and Operating Highlights


Highlights for the three and nine month periods include:

(Percentage comparisons versus comparable 2009 period)
<< - Revenue increased by 36% to $454.0 million and increased 45% to $1.2 billion, for the quarter and year to date respectively - Mine operating earnings increased 48% to $201.2 million and increased 68% to $476.6 million, for the quarter and year to date respectively - Cash flows increased 24% to $208.8 million or $0.28 per share and increased 42% to $485.3 million or $0.65 per share(1), for the quarter and year to date respectively - Net earnings increased 98% to $120.7 million or $0.17 per share, and increased 85% to $291.0 million or $0.39 per share, for the quarter and year to date respectively - Adjusted earnings(1) increased 35% to $118.9 million or $0.16 per share, and increased 12% to $277.9 million or $0.38 per share(1), for the quarter and year to date respectively - Production of 267,409 gold equivalent ounces (GEO) and 760,509 GEO, for the quarter and year-to-date respectively - Cash costs(1) of $104 per GEO and $154 per GEO, for the quarter and year to date respectively - Substantial increase in cash balances to $280 million and reduction in long-term debt of $45 million >>

<<
Yamana reiterates annual production guidance in the range of 1.030-
1.145M GEO and lowers annual by-product cash costs to less than $175 per
GEO from less than $200 per GEO as previously stated.

YAMANA GOLD ANNOUNCES 200% DIVIDEND INCREASE AND SPECIAL DIVIDEND

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TORONTO, Nov. 3 /CNW/ - YAMANA GOLD INC. (TSX:YRI; NYSE:AUY; LSE:YAU) announced today that its Board of Directors has approved an increase to the annualized dividend to US$0.12 per share, or US$0.03 per share quarterly. This represents a 50% increase to the US$0.08 annual dividend announced last quarter and a 200% increase over the 2009 annualized dividend. This quarterly dividend is effective for the fourth quarter and will be payable on January 14, 2011, to shareholders of record at the close of business on December 31, 2010.


The Board of Directors also declared a special dividend of US$0.01 per share. This special dividend will top up the previously declared third quarter dividend and is payable on November 26, 2010 to shareholders of record at the close of business on November 12, 2010.


"This third increase to our annual dividend this year and the special dividend is a reflection of our robust and growing cash flows and cash balances. Our approach to paying dividends demonstrates our confidence in the commodity price environment and our ability to execute on our future growth and growing cash flows," commented Peter Marrone, Chairman and Chief Executive Officer. "We have a track record of paying dividends, we have done so for 17 consecutive quarters. We see this as an important additional way to deliver value to our shareholders."


Both of these dividends are an "eligible dividend" for Canadian tax purposes.

Bankers Runs Up As We Expected -

We hope you got in when we alerted the readers of this website.

We have now cashed out of our position and will wait for a pull back.

House Positions for C:BNK from 20101103 to 20101103

House	Bought	$Val	Ave	Sold	$Val	Ave	Net	$Net
74 GMP	579,000	4,325,778	7.471	418,680	3,122,795	7.459	160,320	-1,202,983
63 Byron	205,000	1,537,082	7.498	50,000	377,837	7.557	155,000	-1,159,245
53 Morgan Stanley	134,700	989,875	7.349	10,000	73,200	7.32	124,700	-916,675
91 Jones	44,400	333,696	7.516	0			44,400	-333,696
1 Anonymous	326,200	2,453,851	7.523	293,700	2,195,320	7.475	32,500	-258,531
121 Jennings	74,000	554,020	7.487	51,600	386,548	7.491	22,400	-167,472
11 MacQuarie	193,400	1,438,339	7.437	173,600	1,282,059	7.385	19,800	-156,280
89 Raymond James	48,900	366,446	7.494	34,000	255,394	7.512	14,900	-111,052
99 Jitney	58,900	441,986	7.504	45,500	341,282	7.501	13,400	-100,704
5 Penson	56,900	425,820	7.484	44,200	330,125	7.469	12,700	-95,695
13 Instinet	11,400	84,640	7.425	5,600	41,328	7.38	5,800	-43,312
39 Merrill Lynch	2,900	21,402	7.38	0			2,900	-21,402
101 Newedge	5,300	38,937	7.347	3,200	24,016	7.505	2,100	-14,921
62 Haywood	1,000	7,540	7.54	0			1,000	-7,540
15 UBS	1,000	7,422	7.422	0			1,000	-7,422
42 Global Maxfin	300	2,250	7.50	0			300	-2,250
82 Stifel	50,000	375,000	7.50	50,000	375,000	7.50	0	0
57 Interactive	0			450	3,348	7.44	-450	3,348
72 Credit Suisse	1,280	9,594	7.495	2,700	20,107	7.447	-1,420	10,513
46 Macquarie	0			2,500	18,725	7.49	-2,500	18,725
12 Wellington	15,600	116,416	7.463	19,300	145,287	7.528	-3,700	28,871
14 ITG	805	5,906	7.337	7,100	53,033	7.469	-6,295	47,127
83 Mackie	0			7,900	59,059	7.476	-7,900	59,059
65 Goldman	1,666	12,472	7.486	10,139	74,116	7.31	-8,473	61,644
81 HSBC	100	731	7.31	8,800	66,712	7.581	-8,700	65,981
78 Salman	0			10,000	74,900	7.49	-10,000	74,900
124 Questrade	0			13,783	103,715	7.525	-13,783	103,715
19 Desjardins	10,000	73,100	7.31	25,350	189,854	7.489	-15,350	116,754
79 CIBC	242,180	1,814,598	7.493	259,000	1,939,264	7.488	-16,820	124,666
33 Canaccord	59,900	446,040	7.446	86,100	643,779	7.477	-26,200	197,739
2 RBC	74,950	559,728	7.468	101,724	763,098	7.502	-26,774	203,370
85 Scotia	12,300	91,809	7.464	43,933	329,460	7.499	-31,633	237,651
73 Cormark	0			61,900	464,250	7.50	-61,900	464,250
80 National Bank	37,900	282,219	7.446	102,557	767,521	7.484	-64,657	485,302
9 BMO Nesbitt	12,200	91,007	7.46	100,398	750,474	7.475	-88,198	659,467
52 NCP	38,191	285,045	7.464	133,231	986,022	7.401	-95,040	700,977
7 TD Sec	75,950	560,816	7.384	199,377	1,495,937	7.503	-123,427	935,121
TOTAL	2,376,322	17,753,565	7.471	2,376,322	17,753,565	7.471	0	0