Wheaton Precious Metals Corp. (NYSE:WPM) Declares C$0.20 Quarterly Dividend

Key Points

• Declared C$0.20 quarterly dividend with a record date of May 27 and payment on June 9 (MarketBeat reports $0.195/share), implying an annualized yield of about 0.6%; the dividend is well covered (payout ratio ~34.5%) and analysts expect future EPS that would lower the forward payout to roughly 16.4%.
• Quarterly results beat expectations: Wheaton reported $1.28 EPS vs $1.24 expected and revenue of $901.5M vs $868.4M, a 91.7% year-over-year increase; the stock traded near $135.43 with a market cap around $61.5B and a P/E of ~41.7.

Wheaton Precious Metals Corp. (NYSE:WPM - Get Free Report) declared a quarterly dividend on Thursday, May 7th. Investors of record on Wednesday, May 27th will be given a dividend of 0.195 per share on Tuesday, June 9th. This represents a c) dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date of this dividend is Wednesday, May 27th.

Wheaton Precious Metals has increased its dividend by an average of 0.1%annually over the last three years and has raised its dividend every year for the last 2 years. Wheaton Precious Metals has a dividend payout ratio of 34.5% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Wheaton Precious Metals to earn $4.77 per share next year, which means the company should continue to be able to cover its $0.78 annual dividend with an expected future payout ratio of 16.4%.

Wheaton Precious Metals Stock Performance

Shares of NYSE:WPM traded up $3.87 during midday trading on Friday, reaching $135.43. The company had a trading volume of 478,089 shares, compared to its average volume of 2,438,238. Wheaton Precious Metals has a 1-year low of $75.42 and a 1-year high of $165.76. The firm has a market cap of $61.50 billion, a price-to-earnings ratio of 41.69, a price-to-earnings-growth ratio of 2.59 and a beta of 0.50. The company has a fifty day simple moving average of $138.97 and a two-hundred day simple moving average of $126.88.

Wheaton Precious Metals (NYSE:WPM - Get Free Report) last released its quarterly earnings results on Thursday, May 7th. The company reported $1.28 earnings per share for the quarter, beating analysts' consensus estimates of $1.24 by $0.04. Wheaton Precious Metals had a return on equity of 17.17% and a net margin of 63.58%.The business had revenue of $901.47 million during the quarter, compared to analyst estimates of $868.35 million. During the same quarter last year, the company posted $0.55 EPS. Wheaton Precious Metals's revenue for the quarter was up 91.7% on a year-over-year basis. Analysts expect that Wheaton Precious Metals will post 4.88 EPS for the current year.

About Wheaton Precious Metals

Wheaton Precious Metals Corp. is a Canada-based precious metals streaming company that acquires and manages long-term purchase agreements for metals produced by mining companies. Rather than operating mines, Wheaton provides upfront and ongoing financing to miners in exchange for the right to purchase a portion of the metals produced — typically silver and gold, and occasionally other precious metals — at predetermined prices. This streaming business model offers investors exposure to metal production with reduced operating and capital-cost risk compared with traditional mining companies.

The company's activities center on structuring and maintaining a diversified portfolio of streaming agreements across multiple jurisdictions.

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