Franco-Nevada Increases Dividend by 5.6% to $0.38
Franco-Nevada Corporation, a leading resource investment company, has announced a 5.6% increase in its quarterly dividend payment to $0.38 per share. This increase reflects the company’s commitment to providing strong returns to its shareholders while continuing to grow its dividend payout.
The new dividend payment represents a significant increase from the previous quarterly dividend of $0.36 per share. The hike takes Franco-Nevada’s annualized dividend yield to 2.52%, making it an attractive option for income-seeking investors.
Franco-Nevada’s dividend increase is a testament to the company’s strong financial performance and long-term strategy. The company has a track record of delivering consistent growth and profitability, driven by its diversified portfolio of mining assets and royalty agreements.
The company’s dividend payment is subject to quarterly approvals by its board of directors and is based on the company’s financial performance and cash flow. Franco-Nevada’s management team has a proven track record of prudently managing the company’s finances, ensuring that the dividend is sustainable and can be maintained in the long term.
In addition to the dividend increase, Franco-Nevada’s recent financial results reflect its strong operational performance. The company reported a revenue of $211.3 million for the first quarter of 2023, representing a 10.2% increase from the same period last year. Net earnings for the quarter stood at $63.2 million, which represents a 12.1% increase from the same period in 2022.
The dividend increase is effective with the company’s upcoming quarterly dividend payment, which is expected to be made on June 14, 2023, to shareholders of record as of May 24, 2023.
Franco-Nevada’s decision to increase its dividend is a positive development for investors, providing a attractive yield and a sign of the company’s commitment to delivering strong returns. As a leading resource investment company, Franco-Nevada is well-positioned to continue delivering value to its shareholders, making it an attractive option for income-seeking investors.
