Near term, traders will monitor (1) silver’s price action and volatility, (2) any fresh filing that includes the Santo Niño resource estimate, and (3) updates on capital spending and throughput/expansion initiatives embedded in 2026 plans. Investors will also be watching whether the company can sustain margins against its stated all-in sustaining cost and broader cost guidance while continuing to convert exploration success into reserves and a longer-life mine plan. ([firstmajestic.com](https://www.firstmajestic.com/investors/news-releases/first-majestic-reports-2025-production-and-2026-outlook-increases-dividend?utm_source=openai)) First Majestic Silver shares are sharply higher in the latest session as investors refocus on the company’s improved operating momentum exiting 2025, alongside a dividend framework that increases payouts with revenue. The company has disclosed stronger production performance and profitability metrics in its latest annual results and reiterated an increased dividend policy that rises from 1% to 2% of net quarterly revenue starting with revenue earned from January 1, 2026. ([firstmajestic.com](https://www.firstmajestic.com/investors/news-releases/first-majestic-reports-q4-2025-and-full-year-2025-financial-results-announces-quarterly-dividend-payment?utm_source=openai)) On operations, the company has published 2026 production and cost guidance and has also pointed to upcoming technical disclosure that could influence views on mine life and growth potential. In particular, management has said a maiden inferred mineral resource estimate for the Santo Niño discovery is expected to be included in its Annual Information Form for the year ended December 31, 2025, targeted for filing at the end of Q1 2026—an event investors may be positioning for as March closes out. ([firstmajestic.com](https://www.firstmajestic.com/investors/first-majestic-reports-continued-exploration-success-at-santa-elena-and-announces-senior-management-update?utm_source=openai)) First Majestic has shifted its dividend calculation to a percentage of net quarterly revenue (now 2%), which effectively makes shareholder returns more sensitive to silver price moves and sales volumes. That structure can attract momentum and income-oriented buyers when silver is rising, because it ties potential cash returns more directly to commodity upside rather than a fixed quarterly payout. ([firstmajestic.com](https://www.firstmajestic.com/investors/news-releases/first-majestic-reports-2025-production-and-2026-outlook-increases-dividend?utm_source=openai))