Royal Gold, Inc. (NASDAQ:RGLD) Plans $0.45 Quarterly Dividend

Key Points

• Royal Gold, Inc. has announced a quarterly dividend of $0.45 per share, payable on October 17th to shareholders of record as of October 3rd.
• The company reported earnings of $1.81 per share for the last quarter, surpassing analysts' expectations and marking a 20.4% increase in revenue year-over-year.
• Royal Gold maintains a dividend payout ratio of 22.4%, indicating that its dividends are well-supported by earnings, with expectations of continuing dividend coverage into the future.

Royal Gold, Inc. (NASDAQ:RGLD - Get Free Report) TSE: RGL declared a quarterly dividend on Tuesday, August 19th, RTT News reports. Shareholders of record on Friday, October 3rd will be paid a dividend of 0.45 per share by the basic materials company on Friday, October 17th. This represents a c) annualized dividend and a dividend yield of 1.1%.

Royal Gold has a dividend payout ratio of 22.4% indicating that its dividend is sufficiently covered by earnings. Analysts expect Royal Gold to earn $6.89 per share next year, which means the company should continue to be able to cover its $1.80 annual dividend with an expected future payout ratio of 26.1%.

Royal Gold Trading Down 2.8%

Shares of NASDAQ RGLD traded down $4.84 during midday trading on Tuesday, reaching $166.71. 814,769 shares of the company were exchanged, compared to its average volume of 885,142. Royal Gold has a 1 year low of $130.67 and a 1 year high of $191.78. The stock has a fifty day simple moving average of $167.31 and a 200 day simple moving average of $166.01. The stock has a market cap of $10.97 billion, a P/E ratio of 24.44, a PEG ratio of 1.22 and a beta of 0.40.

Royal Gold (NASDAQ:RGLD - Get Free Report) TSE: RGL last released its quarterly earnings results on Wednesday, August 6th. The basic materials company reported $1.81 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.70 by $0.11. Royal Gold had a return on equity of 13.30% and a net margin of 56.24%.The firm had revenue of $209.64 million for the quarter, compared to analyst estimates of $186.63 million. During the same quarter last year, the company posted $1.25 earnings per share. The business's revenue was up 20.4% on a year-over-year basis. As a group, analysts forecast that Royal Gold will post 6.2 earnings per share for the current year.

Institutional Investors Weigh In On Royal Gold

A number of hedge funds and other institutional investors have recently modified their holdings of RGLD. WPG Advisers LLC purchased a new stake in shares of Royal Gold during the 1st quarter valued at $27,000. Cullen Frost Bankers Inc. boosted its position in Royal Gold by 548.1% during the 2nd quarter. Cullen Frost Bankers Inc. now owns 175 shares of the basic materials company's stock worth $31,000 after purchasing an additional 148 shares during the period. Alpine Bank Wealth Management acquired a new position in Royal Gold in the 1st quarter worth $32,000. Banque Cantonale Vaudoise acquired a new position in Royal Gold in the 1st quarter worth $34,000. Finally, Blue Trust Inc. lifted its holdings in Royal Gold by 56.8% in the 2nd quarter. Blue Trust Inc. now owns 196 shares of the basic materials company's stock worth $35,000 after buying an additional 71 shares in the last quarter. 83.65% of the stock is currently owned by institutional investors and hedge funds.

About Royal Gold

Royal Gold, Inc, together with its subsidiaries, acquires and manages precious metal streams, royalties, and related interests. The company engages in acquiring stream and royalty interests or to finance projects that are in production, development, or in the exploration stage in exchange for stream or royalty interests, which primarily consists of gold, silver, copper, nickel, zinc, lead, and other metals.

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