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Osisko Gold Royalties announced the results of its annual meeting of shareholders, reporting the election of 9 nominees as directors of the A total of 149,592,121 common shares were present, representing 80.47% of the outstanding shares. The also appointed PricewaterhouseCoopers, LLP as independent auditor and approved various resolutions related to share purchase plans. Osisko Gold Royalties is an intermediate precious metal royalty company with a diverse portfolio of over 185 royalties and streams, anchored by a significant net smelter return royalty on the Canadian Malartic Complex.
Osisko Gold Royalties has declared an 8% increase in the second quarter 2024 dividend, amounting to C$0.065 per common share. This marks the 39th consecutive quarterly dividend, to be paid on July 15, 2024, to shareholders of record as of June 28, 2024. The Company also offers a dividend reinvestment plan for shareholders in Canada and the United States.
Osisko Gold Royalties reported strong Q1 2024 results with operating cash flows of $50.4 million, cash margin of 97%, an 8% increase in quarterly dividend, and various financial achievements. The company earned 22,259 gold equivalent ounces, generated $60.8 million in revenues from royalties and streams, had net earnings of $15.1 million, and adjusted earnings of $29.7 million. Additionally, Osisko made repayments on its credit facility, had a cash balance of $70.6 million, and appointed a new board member. Following the quarter, the company made additional repayments on its credit facility, extended the maturity date, published sustainability reports, declared an increased dividend, and expects stronger GEO deliveries in the future. The CEO expressed confidence in the company's performance and growth prospects.
