TSX | NYSE | LSE: WPM
DIVIDEND DECLARATION
VANCOUVER, BC, Aug. 11,
2022 /PRNewswire/ - Wheaton Precious Metals™ Corp.
("Wheaton" or the "Company") is pleased to announce that its Board
of Directors has declared its third quarterly cash dividend payment
for 2022 of US$0.15 per common
share.
Third Quarterly Dividend
The third quarterly cash dividend for 2022 of US$0.15 will be paid to holders of record of
Wheaton common shares as of the close of business on August 26, 2022 and will be distributed on or
about September 8, 2022. The
ex-dividend trading date is September 7,
2022.
Under the Company's revised dividend policy, for the 2022
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 2022 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 a 1%
discount to 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. 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.
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SOURCE Wheaton Precious Metals Corp.