12th Mar 2021 14:07
Wheaton Precious Metals Corp - Vancouver-based precious metals streaming - Says revenue in 2020 rises by 27% to USD1.10 billion from USD861.3 million in 2019. Pretax earnings multiplies to USD505.3 million from USD77.1 million. Gold production in 2020 declined by 9.6% to 367,419 ounces, while silver production was up 2.2% at 22.9 million ounces. Palladium output rose by 0.9% to 22.2 million ounces. Wheaton says it sold 369,553 ounces of gold in 2020, down 5.0% year-on-year. Silver sales totalled 19.2 million ounces, up 8.6% on the year before, while palladium sales were down 3.0% to 20.1 million ounces in 2020.
Looking ahead, attributable production in 2021 is forecast to be 370,000 to 400,000 ounces of gold, and 22.5 million to 24.0 million ounces of silver.
"Given the resiliency of our production base coupled with our innovative dividend policy, we are pleased to provide greater value back to our shareholders in 2021 by increasing the minimum quarterly dividend by over 30% relative to last year," says Randy Smallwood, president and chief executive officer of Wheaton. The company declares quarterly dividend of USD0.13 per share.
Current stock price: 2,651.36 pence, down 7.9% on Friday
Year-to-date change: down 15%
By Evelina Grecenko; [email protected]
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