Business
Metalla Raises Monthly Dividend by 50% and Announces Fiscal 2018 Q3 Production
VANCOUVER, British Columbia, March 19, 2018 (GLOBE NEWSWIRE) -- Metalla Royalty & Streaming Ltd. (“Metalla” or the “Company”) (TSXV:MTA) (OTCQX:MTAFF) (FRANKFUR
About this update from Metalla Royalty & Streaming Ltd.
[{"type":"text","content":" VANCOUVER, British Columbia, March 19, 2018 (GLOBE NEWSWIRE) -- Metalla Royalty & Streaming Ltd. (“Metalla” or the “Company”) (TSXV:MTA) (OTCQX:MTAFF) (FRANKFURT:X9CP) announces preliminary production results for the three months ended February 28, 2018 (“Q3”) of 96,542 ounces (“Oz.”) of silver (“Ag”) sold and provisionally invoiced. In addition, Metalla held 35,473 Oz. Ag of attributable inventory to be realized in the subsequent quarter. Metalla expects fiscal Q3 financial statements and MD&A to be released toward the end of April 2018. DIVIDEND Metalla is pleased to announce that its board of directors has approved and declared a monthly cash dividend payment of CAD$ 0.001 per share for April and May 2018 and CAD$0.0015 per share for June 2018 on its common shares for the upcoming quarter (subject to any applicable tax withholding obligations). The table below sets out the monthly record and payment dates for shareholders of record. The Company plans to expand its dividend over the course of the year targeting a payout ratio up to 50% of its operating cash flow after taxes and G&A. The dividend should give shareholders a link to gold and silver prices and performance of the Company’s royalties and streams. DIVIDEND SCHEDULE Record Date Payment Date Payment Amount ($CAD) April April 2, 2018 April 16, 2018 $0.001 May May 1, 2018 May 15, 2018 $0.001 June June 1, 2018 June 15, 2018 $0.0015 In the future, and assuming compliance with all applicable securities laws, the Company plans to offer a Dividend Reinvestment Plan (“DRIP”) once it reaches certain requirements to efficiently provide the DRIP to all of its shareholders. Brett Heath, Metalla’s President & CEO commented, “For the third quarter of fiscal 2018, our revenue and cash flow continue to support our growing dividend program.” Mr. Heath continued, “The increased dividend beginning in June will yield 2.7% on an annual basis based on our current share price1 of CAD$0.68. This makes Metalla one of the highest yielding precious metal royalty and streaming stocks. It also means shareholders have a material link to the Company’s growth and precious metal prices. We will continue to grow our cash flow and dividend through accretive transactions.” Qualified Person The technical information contained in this news release has been reviewed and approved by C...