TIDMWPM
RNS Number : 8974X
Wheaton Precious Metals Corp.
07 May 2021
May 6, 2021 TSX | NYSE | LSE: WPM
Vancouver, British Columbia
DIVIDEND DECLARATION
WHEATON PRECIOUS METALS increases quarterly dividend for a third
quarter in a row
Vancouver, British Columbia - Wheaton Precious Metals(TM) Corp.
("Wheaton" or the "Company") is pleased to announce that its Board
of Directors has declared its second quarterly cash dividend
payment for 2021 of US$0.14 per common share, an increase of 40%
relative to the comparable period in 2020 and representing the
third quarterly dividend increase in a row.
Second Quarterly Dividend
The second quarterly cash dividend for 2021 of US$0.14 will be
paid to holders of record of Wheaton Precious Metals common shares
as of the close of business on May 21, 2021 and will be distributed
on or about June 3, 2021.
Under the Company's dividend policy, the quarterly dividend per
common share is targeted to equal approximately 30% of the average
cash generated by operating activities in the previous four
quarters divided by the Company's then outstanding common shares,
all rounded to the nearest cent. To minimize volatility in
quarterly dividends, the Company has set a minimum quarterly
dividend of $0.13 per common share for the duration of 2021.
The declaration, timing, amount and payment of future dividends
remain at the discretion of the Board of Directors. This dividend
qualifies as an 'eligible dividend' for Canadian income tax
purposes.
Dividend Reinvestment Plan
The Company has previously implemented a Dividend Reinvestment
Plan ("DRIP"). Participation in the DRIP is optional. For the
purposes of this first quarterly dividend, the Company has elected
to issue common shares under the DRIP through treasury at a 1%
discount to the Average Market Price, as defined in the DRIP.
However, the Company may, from time to time, in its discretion,
change or eliminate the discount applicable to Treasury
Acquisitions, as defined in the DRIP, or direct that such common
shares be purchased in Market Acquisitions, as defined in the DRIP,
at the prevailing market price, any of which would be publicly
announced.
The DRIP and enrollment forms, including direct deposit, are
available for download on the Company's website at
www.wheatonpm.com, in the 'investors' section under the 'dividends'
tab.
Registered shareholders may also enroll in the DRIP online
through the plan agent's self-service web portal at:
https://www.canstockta.com/en/InvestorServices/Investor_Information/Issuer_List/IssuerDetail.jsp?companyCode=1501
.
Beneficial shareholders should contact their financial
intermediary to arrange enrollment. All shareholders considering
enrollment in the DRIP should carefully review the terms of the
DRIP and consult with their advisors as to the implications of
enrollment in the DRIP.
This press release is not an offer to sell or a solicitation of
an offer of securities. A registration statement relating to the
DRIP has been filed with the U.S. Securities and Exchange
Commission and may be obtained under the Company's profile on the
U.S. Securities and Exchange Commission's website at
http://www.sec.gov. A written copy of the prospectus included in
the registration statement may be obtained by contacting the
Corporate Secretary of the Company at 1021 West Hastings Street,
Suite 3500, Vancouver, British Columbia, Canada V6E 0C3.
CAUTIONARY NOTE REGARDING FORWARD LOOKING-STATEMENTS
This press release contains "forward-looking statements" within
the meaning of the United States Private Securities Litigation
Reform Act of 1995 and "forward-looking information" within the
meaning of applicable Canadian securities legislation concerning
the business, operations and financial performance of Wheaton.
Forward-looking statements, which are all statements other than
statements of historical fact, include, but are not limited to,
statements with respect to future dividends. Forward-looking
statements are subject to known and unknown risks, uncertainties
and other factors that may cause the actual results, level of
activity, performance or achievements of Wheaton to be materially
different from those expressed or implied by such forward-looking
statements including risks discussed in the section entitled
"Description of the Business - Risk Factors" in Wheaton's Annual
Information Form available on SEDAR at www.sedar.com , Wheaton's
Form 40-F for the year ended December 31, 2020 and Form 6-K filed
March 31, 2021 both on file with the U.S. Securities and Exchange
Commission on EDGAR and Wheaton's Management's Discussion and
Analysis for the three months ended March 31, 2021, available on
SEDAR at www.sedar.com and Form 6-K filed May 6, 2021, available on
EDGAR. Forward-looking statements are based on assumptions
management currently believes to be reasonable, including (without
limitation) that there will be no material adverse change in the
market price of commodities, that neither Wheaton nor the Mining
Operations will suffer significant impacts as a result of an
epidemic (including the COVID-19 virus pandemic), that the mining
operations from which Wheaton purchases precious metals will
continue to operate, that each party will satisfy their obligations
in accordance with the precious metals purchase agreements and that
Wheaton's application of the CRA Settlement for years subsequent to
2010 is accurate (including the Company's assessment that there
will be no material change in the Company's facts or change in law
or jurisprudence for years subsequent to 2010).
For further information, please contact:
Patrick Drouin
Senior Vice President, Investor Relations
Wheaton Precious Metals Corp.
Tel: 1-844-288-9878
Email: info@wheatonpm.com
Website: www.wheatonpm.com
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
RNS may use your IP address to confirm compliance with the terms
and conditions, to analyse how you engage with the information
contained in this communication, and to share such analysis on an
anonymised basis with others as part of our commercial services.
For further information about how RNS and the London Stock Exchange
use the personal data you provide us, please see our Privacy
Policy.
END
DIVARMATMTIMMMB
(END) Dow Jones Newswires
May 07, 2021 02:01 ET (06:01 GMT)
Wheaton Precious Metals (LSE:0VOT)
Historical Stock Chart
From Apr 2024 to May 2024
Wheaton Precious Metals (LSE:0VOT)
Historical Stock Chart
From May 2023 to May 2024