Business
Gold Royalty Declares First Quarter 2023 Dividend and Introduces Dividend Reinvestment Plan
DESIGNATED NEWS RELEASE VANCOUVER, BC, Feb. 16, 2023 /CNW/ - Gold Royalty Corp. (NYSE American: GROY) ("Gold Royalty" or the "Company") is pleased to announce t
About this update from Gold Royalty Corp.
[{"type":"text","content":" DESIGNATED NEWS RELEASE VANCOUVER, BC, Feb. 16, 2023 /CNW/ - Gold Royalty Corp. (NYSE American: GROY) (\"Gold Royalty\" or the \"Company\") is pleased to announce that its board of directors has declared the Company's first quarter 2023 cash dividend of US$0.01 per common share and adopted a dividend reinvestment plan (the \"DRIP\"). First Quarter 2023 Dividend The dividend will be paid on April 13, 2023 to shareholders of record as of the close of business on March 31, 2023. The dividend qualifies as an \"eligible\" dividend as defined in the Income Tax Act (Canada). The dividend is subject to customary Canadian withholding tax for shareholders that are not resident in Canada. The Company's dividend program contemplates quarterly dividends, the declaration, timing, amount and payment of which will be subject to the discretion and approval of the board of directors of the Company based on relevant factors, including, among others, the Company's financial condition and capital allocation plans. Dividend Reinvestment Plan The Company has adopted the DRIP commencing with its upcoming first quarter 2023 dividend. In order to be eligible to participate in first quarter 2023 dividend, enrollment must be completed by registered shareholders by 5:00 pm (Toronto time) on March 24, 2023. Beneficial shareholders will need to make arrangements through their brokers and/or nominees sufficiently in advance of such time. The DRIP provides eligible shareholders of Gold Royalty with the opportunity to have all or a portion of the cash dividends declared on their common shares by the Company automatically reinvested into additional common shares, without paying brokerage commissions. Participation in the DRIP is optional and will not affect shareholders' cash dividends unless they elect to participate in the DRIP. The DRIP allows participating shareholders to reinvest some or all of their cash dividends into additional common shares. At the current time, the common shares will be issued under the DRIP at a 3% discount to the Average Market Price, as defined in the DRIP, without paying brokerage commissions. The Company has the discretion to cause share issuances under the DRIP to be satisfied by issuing common shares from treasury or through purchases of common shares on the open market including the facilities of the NYSE Ameri...