TSX | NYSE | LSE: WPM
VANCOUVER, BC, May 5, 2022 /CNW/ – Wheaton Precious Metals™ Corp. (“Wheaton” or the “Company”) is pleased to announce that its Board of Directors has declared its second quarterly cash dividend for 2022 $0.15 per common share.
Second quarterly dividend
The second quarterly cash dividend for 2022 from $0.15 will be paid to registered holders of Wheaton common stock after close of business May 20, 2022 and will be distributed on or via 3rd of June2022. The ex-dividend trading date is May 19, 2022.
Pursuant to the Company’s revised dividend policy, the quarterly dividend per common share for calendar year 2022 is intended to be the higher of 30% of the average cash generated by operations during the preceding four quarters divided by the Company’s then outstanding common stock. all rounded to the nearest cent and the dividend declared in the previous quarter. In order to minimize quarterly dividend volatility, the Company has declared a minimum quarterly dividend for the duration of 2022 equal to the dividend per common share declared in the previous quarter.
The declaration, timing, amount and payment of future dividends remain at the discretion of the Directors. This dividend is considered an “eligible dividend” for Canadian income tax purposes.
Dividend Reinvestment Plan
The Company previously implemented a dividend reinvestment plan (“DRIP”). Participation in the DRIP is optional. For purposes of this quarterly dividend, the Company has elected to issue common stock under the DRIP through treasury stock at a discount of 1% to the average market price, as defined in the DRIP. However, the Company may from time to time, in its sole discretion, change or eliminate the rebate applicable to treasury acquisitions as defined in the DRIP or direct such common stock to be purchased in market acquisitions, as defined in the DRIP, at the prevailing market price, each of which would be publicly announced.
The DRIP and registration forms, including direct deposit, are available for download from the company’s website at www.wheatonpm.comin 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
Beneficiary shareholders should contact their financial intermediary to arrange registration. Any Shareholder contemplating inclusion in the DRIP should carefully review the terms of the DRIP and consult with their advisors as to the implications of inclusion in the DRIP.
This press release is neither an offer to sell nor a solicitation of an offer of any securities. A registration statement regarding the DRIP has been filed with the US Securities and Exchange Commission and is available under the Company’s profile on the US Securities and Exchange Commission’s website at http://www.sec.gov. A written copy of the prospectus contained in the registration statement is available from the Company’s Corporate Secretary at 1021 West Hastings Street, Suite 3500. Vancouver, British ColumbiaCanada V6E 0C3.
CAUTIONARY NOTE ABOUT FORWARD-LOOKING STATEMENTS
This press release contains “forward-looking statements” within the meaning of the U.S. Private Securities Litigation Reform Act of 1995 and “forward-looking information” within the meaning of applicable Canadian securities laws regarding the business, operations and financial performance of Wheaton. Forward-looking statements, which are all statements that are not statements of historical fact, include, but are not limited to, statements regarding future dividends. Forward-looking statements involve known and unknown risks, uncertainties and other factors that could cause Wheaton’s actual results, level of activity, performance or achievements to differ materially from those expressed or implied by such forward-looking statements, including the risks discussed in the Section titled “Description of Business – Risk Factors” on Wheaton’s annual information form available on SEDAR at www.sedar.com and Wheaton’s Form 40-F for the past year December 31, 2021 and filed Form 6-K March 31, 2022 both are on file with the US Securities and Exchange Commission on EDGAR. Forward-looking statements are based on assumptions that management currently believes to be reasonable, including but not limited to that there will be no material adverse changes in the market price of commodities, that the mining operations from which Wheaton purchases precious metals will continue to operate, that any party will comply with its obligations under the precious metals purchase agreements, that neither Wheaton nor the mining operations will suffer a material impact as a result of an epidemic (including the COVID-19 virus pandemic), and that Wheaton’s post-2010 CRA settlement request is accurate (including assessment of the company that there will be no material change in the facts of the company or changes in law or jurisprudence for the years after 2010) and possible domestic audits for tax years after 2016 and international audits.
SOURCE Wheaton Precious Metals Corp.
For more information: Patrick Drouin, Senior Vice President, Investor Relations, Wheaton Precious Metals Corp., Tel: 1-844-288-9878, Email: [email protected]Website: www.wheatonpm.com