VANCOUVER - Wheaton Precious Metals (NYSE:WPM) Corp., a mining company, announced an increase in its quarterly cash dividend to $0.155 per common share, a slight rise from the previous quarter's dividend of $0.15 per share. This marks the first dividend declaration for the year 2024, with the upcoming payment scheduled for shareholders of record as of April 3, 2024.
The company also revealed changes to its dividend policy, shifting from a system that distributed 30% of the average of the previous four quarters' operating cash flows to shareholders to a progressive dividend policy. This adjustment is intended to enhance the annual dividend for 2024 and beyond, although future dividends will remain subject to the discretion of the Board of Directors.
Shareholders can expect the dividend to be paid on or about April 15, 2024, with the ex-dividend date set for April 2, 2024. Wheaton has also maintained its Dividend Reinvestment Plan (DRIP), allowing shareholders to reinvest their dividends into additional common shares. For this quarter, the company has chosen to issue shares through treasury at the Average Market Price without any discount.
The details of the DRIP, along with enrollment forms, are available on Wheaton's website, and enrollment can be completed online through the plan agent's web portal. Beneficial shareholders interested in the DRIP are advised to contact their financial intermediary.
The company's announcement includes forward-looking statements, which are subject to various risks and uncertainties that could cause actual results to differ materially from those projected. These statements are based on management's current expectations and involve assumptions that may not materialize, including the continued operation of mining operations and the accuracy of production estimations.
The information presented in this article is based on a press release statement from Wheaton Precious Metals Corp.
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