REG - Wheaton Precious Met - Wheaton Announces Increase to Quarterly

Wheaton Precious MetalsAnnouncement

15/03/2024 07:00

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RNS Number : 9537G  Wheaton Precious Metals Corp.  15 March 2024

March 15, 2024
Vancouver, British Columbia

DIVIDEND DECLARATION

 

Wheaton Precious Metals Announces Increase to 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 2024 of US$0.155 per common
share, an increase from the fourth quarterly cash dividend payment for 2023 of
US$0.15 per common share.

 

Amendment to Dividend Policy

The Company has revised its dividend policy, transitioning from distributing
30% of the average of the previous four quarters' operating cash flows to
shareholders, to adopting a progressive dividend policy marked by an increase
to our 2024 annual dividend.

 

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.

 

First Quarterly Dividend

The first quarterly cash dividend for 2024 of US$0.155 will be paid to holders
of record of Wheaton common shares as of the close of business on April 3,
2024, and will be distributed on or about April 15, 2024. The ex-dividend
trading date is April 2, 2024.

 

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, without
a discount.

 

The Company may, from time to time, in its discretion, apply, change or
eliminate any 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.sedarplus.ca and Wheaton's Form 40-F for the
year ended December 31, 2022 filed March 31, 2023 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, 2023, available on SEDAR+ and in Wheaton's
Form 6-K filed March 19, 2024. 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 estimations of future production from the mining
operations and mineral reserves and resources are accurate, 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 and royalty agreements, and that Wheaton's
application of the CRA Settlement (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 assessment of the impact of a
15% global minimum tax, are accurate and that expectations regarding the
resolution of legal and tax matters will be achieved (including CRA audits
involving the Company).

 

For further information, please contact:

 

Emma Murray

Vice President, Investor Relations

Wheaton Precious Metals Corp.

Tel: 1-844-288-9878

Email: info@wheatonpm.com

 

 

 

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