First Majestic Silver: A Decade of Dividends & Shiny Things

Silver, you see, has been behaving rather…enthusiastically of late. A parabolic rise, they call it. As if the metal itself had developed a sudden urge to escape the earth and orbit the planet. It’s calmed down a bit, naturally – everything does, eventually, except accountants¹ – but it’s still showing a considerable improvement over its previous, less-sparkly self. And where silver goes, certain silver-digging enterprises tend to follow.

Which brings us to First Majestic Silver. A company that, unlike some, has actually managed to find the silver, rather than simply speculate about its existence. Ten years ago, a humble hundred dollars invested in these chaps would currently be worth a rather satisfying six hundred and ten dollars. A return of nearly twenty percent annually. That’s enough to make a gnome blush.

First Majestic, you see, is a specialist. A silver purist, if you will. A remarkable fifty-seven percent of their income comes directly from the stuff, which is higher than most of their peers. Ninety percent of their revenue comes from precious metals. They own four mines in Mexico, and – a rather clever touch, this – they even have their own mint. A mint! It’s like having a dragon forge for money.²

And it’s not just the price of silver, although that certainly helps. They’ve been rather astute in acquiring other silver-bearing entities. Primero Mining in 2018 added the San Dimas mine to their holdings – a mine that, in 2025, produced a truly impressive 10.2 million ounces of silver equivalent. And last year, they acquired Gatos Silver, which further enhanced their ability to capitalize on the silver surge. It’s all rather…efficient. Like a well-oiled goblin war machine.

But here’s the really interesting bit, for those of us who appreciate a bit of regular income: in 2021, First Majestic started paying dividends. A mere ten dollars added to the total return, yes, but a dividend nonetheless! It’s a sign, you see, of a company that isn’t just hoarding all the shiny things for itself. It’s sharing the wealth. A radical concept, really.³

Their strategy of focusing on silver mines – a surprisingly uncommon approach, one might think – has paid off handsomely. They’ve managed to significantly increase shareholder value by, well, actually finding the stuff people want. It’s a simple idea, really. But then, the best ideas often are. They’ve turned a hundred dollars into over six hundred, and they’re distributing a portion of the profits to shareholders. It’s almost…capitalistic.⁴

So, if you’re looking for a company that digs up shiny things, shares the profits, and generally seems to be doing something right, First Majestic Silver might be worth a closer look. Just don’t expect them to solve all the world’s problems. They’re a mining company, not wizards.

Accountants, of course, are powered by a complex system of spreadsheets and an unwavering belief in the importance of decimal points. Attempts to introduce joy into their calculations have been met with…resistance.

Dragons, naturally, have a keen eye for quality and a penchant for hoarding. First Majestic’s mint, while lacking a fire-breathing guardian, strives for a similar level of craftsmanship.

Sharing wealth is often frowned upon by those who have accumulated a great deal of it. It’s a curious quirk of human nature, really.

⁴

Capitalism, a system where people exchange goods and services for profit. It’s been known to produce both great wealth and profound inequality. It’s complicated.

2026-02-09 10:52

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