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Wheaton Precious Metals Increases Minimum Quarterly Dividend by 11% for 2020
Wheaton Precious Metals Increases Minimum Quarterly Dividend by 11% for 2020 Canad...
About this update from Wheaton Precious Metals Corp
[{"type":"text","content":"\n\n\n\nWheaton Precious Metals Increases Minimum Quarterly Dividend by 11% for 2020\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\n\nCanada NewsWire\nVANCOUVER, March 11, 2020\n\n\n\nTSX: WPM    NYSE: WPM\n VANCOUVER, March 11, 2020 /CNW/ - Wheaton Precious Metals™ Corp. (\"Wheaton\" or the \"Company\") is pleased to announce that its Board of Directors has declared its first quarterly cash dividend payment for 2020 of US$0.10 per common share, an 11% increase relative to the prior period.\nFirst Quarterly DividendThe first quarterly cash dividend for 2020 of US$0.10 will be paid to holders of record of Wheaton Precious Metals common shares as of the close of business on March 26, 2020, and will be distributed on or about April 9, 2020. \nUnder 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 $0.10 per common share for the duration of 2020 representing an 11% increase relative to 2019. Under the new minimum dividend policy, the forecast annualized dividend for 2020 would represent an increase of more than 90% over a five-year period.\nThe 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. \nDividend Reinvestment PlanThe Company has previously implemented a Dividend Reinvestment Plan (\"DRIP\"). Participation in the DRIP is optional. For the purposes of this fourth 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, a...