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Wheaton announces higher Q4 dividend

10th November 2020

By: Creamer Media Reporter

     

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Precious metals streaming company Wheaton on Monday announced a 20% increase in its fourth-quarter dividend, relative to the prior-period dividend.

The company, which trades in Toronto, New York and recently London, declared a fourth quarter cash dividend payment of $0.12 a common share.

Wheaton on Monday also announced that it had generated $228-million in operating cash flow in the third quarter, up 60% on the third quarter of 2019, resulting in a record of more than $555-million in the first nine months of 2020.

President and CEO Randy Smallwood said that production in the third quarter had rebounded strongly following temporary suspensions of some operations as a result of the Covid-19 pandemic in the prior quarter, and that the company was on track to meet the higher end of its guidance.

Attributable gold equivalent production was 171 900 oz in the quarter with the slight reduction relative to the third quarter of 2019, primarily owing to the mining of lower grade material at Vale’s Salobo.

Edited by Creamer Media Reporter

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