REG - Wheaton Precious Met - Quarterly Dividend Declaration

Wheaton Precious MetalsAnnouncement

10/03/2023 07:15

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RNS Number : 5618S  Wheaton Precious Metals Corp.  10 March 2023

March 10, 2023
Vancouver, British Columbia

DIVIDEND DECLARATION

 

Wheaton Precious Metals Declares Quarterly Dividend

 

Vancouver, British Columbia - 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 2023 of US$0.15 per common
share.

 

First Quarterly Dividend

The first quarterly cash dividend for 2023 of US$0.15 will be paid to holders
of record of Wheaton common shares as of the close of business on March 24,
2023, and will be distributed on or about April 6, 2023. The ex-dividend
trading date is March 23, 2023.

 

Under the Company's dividend policy, for the 2023 calendar year, the quarterly
dividend per common share is targeted to equal the greater of 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 and the dividend declared in the prior quarter. To minimize
volatility in quarterly dividends, the Company has set a minimum quarterly
dividend for the duration of 2023 equal to the dividend per common share
declared in the prior quarter.

 

The 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.

 

Dividend Reinvestment Plan

The Company has previously implemented a Dividend Reinvestment Plan ("DRIP").
Participation in the DRIP is optional. For the purposes of this quarterly
dividend, the Company has elected to issue common shares under the DRIP
through treasury at 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, as defined in the DRIP, or
direct that such common shares be purchased in Market Acquisitions, as defined
in the DRIP, at the prevailing market price, any of which would be publicly
announced.

 

The DRIP and enrollment forms, including direct deposit, are available for
download on the Company's website at www.wheatonpm.com, in the 'investors'
section under the 'dividends' tab.

 

Registered shareholders may also enroll in the DRIP online through the plan
agent's self-service web portal at: https://tsxtrust.com/DRIP

 

Beneficial shareholders should contact their financial intermediary to arrange
enrollment. All shareholders considering enrollment in the DRIP should
carefully review the terms of the DRIP and consult with their advisors as to
the implications of enrollment in the DRIP.

 

This press release is not an offer to sell or a solicitation of an offer of
securities. A registration statement relating to the DRIP has been filed with
the U.S. Securities and Exchange Commission and may be obtained under the
Company's profile on the U.S. Securities and Exchange Commission's website at
http://www.sec.gov. A written copy of the prospectus included in the
registration statement may be obtained by contacting the Corporate Secretary
of the Company at 1021 West Hastings Street, Suite 3500, Vancouver, British
Columbia, Canada V6E 0C3.

 

 

CAUTIONARY NOTE REGARDING FORWARD LOOKING-STATEMENTS

This press release contains "forward-looking statements" within the meaning of
the United States Private Securities Litigation Reform Act of 1995 and
"forward-looking information" within the meaning of applicable Canadian
securities legislation concerning the business, operations and financial
performance of Wheaton. Forward-looking statements, which are all statements
other than statements of historical fact, include, but are not limited to,
statements with respect to future dividends. Forward-looking statements are
subject to known and unknown risks, uncertainties and other factors that may
cause the actual results, level of activity, performance or achievements of
Wheaton to be materially different from those expressed or implied by such
forward-looking statements including risks discussed in the section entitled
"Description of the Business - Risk Factors" in Wheaton's Annual Information
Form available on SEDAR at www.sedar.com and Wheaton's Form 40-F for the year
ended December 31, 2021 and Form 6-K filed March 31, 2022 both on file with
the U.S. Securities and Exchange Commission on EDGAR and the risks identified
under "Risks and Uncertainties" in Wheaton's Management's Discussion and
Analysis for the year ended December 31, 2022, available on SEDAR and in
Wheaton's Form 40-F and Wheaton's Form 6-K filed March 9, 2023.
Forward-looking statements are based on assumptions management currently
believes to be reasonable, including (without limitation) that there will be
no material adverse change in the market price of commodities, that the mining
operations from which Wheaton purchases precious metals will continue to
operate, that each party will satisfy their obligations in accordance with the
precious metals purchase agreements, that neither Wheaton nor the Mining
Operations will suffer significant impacts as a result of an epidemic
(including the COVID-19 virus pandemic) and that Wheaton's application of the
CRA Settlement for years subsequent to 2010 is accurate (including the
Company's assessment that there will be no material change in the Company's
facts or change in law or jurisprudence for years subsequent to 2010) and
possible domestic audits for taxation years subsequent to 2016 and
international audits.

 

For further information, please contact:

 

Patrick Drouin

Senior Vice President, Investor Relations

Wheaton Precious Metals Corp.

Tel: 1-844-288-9878

Email: info@wheatonpm.com

Website: www.wheatonpm.com (http://www.wheatonpm.com)

 

 

 

 

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