TIDMWPM
RNS Number : 0722T
Wheaton Precious Metals Corp.
10 November 2023
November 9, 2023
Vancouver, British Columbia
DIVIDEND DECLARATION
Wheaton Precious Metals Declares Quarterly Dividend
Vancouver, British Columbia - Wheaton Precious Metals(TM) Corp.
("Wheaton" or the "Company") is pleased to announce that its Board
of Directors has declared its fourth quarterly cash dividend
payment for 2023 of US$0.15 per common share.
Fourth Quarterly Dividend
The fourth 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 November 28, 2023, and will be distributed on or
about December 8, 2023. The ex-dividend trading date is November
27, 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, 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, 2022, available on SEDAR+ and in
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
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
that Wheaton's application of the CRA Settlement 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:
Emma Murray
Vice President, Investor Relations
Wheaton Precious Metals Corp.
Tel: 1-844-288-9878
Email: info@wheatonpm.com
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END
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