Hecla Mining Company Form DEF A14A dated May 9, 2005
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 14A
Proxy Statement
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HECLA MINING COMPANY |
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HECLA MINING COMPANY
6500 Mineral Drive, Suite 200
Coeur dAlene, ID 83815-9408
(208) 769-4100
NOTICE TO HOLDERS OF
SERIES B CONVERTIBLE PREFERRED STOCK
OF HECLA MINING COMPANY
The Board of Directors of
Hecla Mining Company declared and set apart for payment all preferred stock dividends in arrears prior to the annual meeting of
shareholders on May 6, 2005, and, in accordance with the Certificate of Designation for the preferred stock, the two directors
elected by holders of preferred stock were no longer in office, and no election of their successors by preferred stockholders was
appropriate. Therefore, the prior determination to adjourn the preferred stock election of directors until June 1, 2005 was not
carried out.
The dividend in arrears to
holders of Preferred B Stock is in the amount of $14.875 per share as well as the regular quarterly dividend in the amount of
$0.875 per share, will be payable on July 1, 2005, to shareholders of record as of June 16, 2005. Because the dividend amounts
to more than 20% of the current share price of the preferred stock, the New York Stock Exchange has determined the
ex-dividend date for both dividends will be July 5, 2005, the first business day following the payable date. Hecla
Preferred B shareholders who subsequently sell their shares of preferred stock through the payable date for the dividend in
arrears will also be selling their right to receive the dividend. Shareholders are encouraged to consult with their financial
advisor regarding the specific implications of the deferral of the ex-dividend date.
Mr. David Christensen and Dr.
Anthony Taylor, the two directors previously elected by preferred stockholders, were added to the Board of Directors after the
annual meeting of shareholders by action of the Board of Directors to serve until the annual meeting in 2008.
HECLA MINING COMPANY
Michael B. White
Corporate Secretary
May 9, 2005