Osisko Declares an 8% Increase in Second Quarter 2024 Dividend
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.
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Insights
Osisko Gold Royalties Ltd's announcement of an 8% increase in their quarterly dividend is a sign of the company's financial health and commitment to providing shareholder value. Such an increase is generally reflective of a company's confidence in its ongoing profitability and cash flow stability. However, investors should consider the sustainability of such increments. Looking at the company's financial statements, particularly the free cash flow and earnings, would be essential to assess whether the increased dividend is supported by strong fundamentals or if it might strain the company's finances in the long run.
Moreover, while a dividend increase is positive, it is also important to examine the overall yield in comparison to the industry average. An 8% increase, on its own, may not significantly impact the investment's total return if the baseline dividend yield is low relative to its peers. Additionally, the impact of the reinvested dividends through the dividend reinvestment plan should be analyzed, as it could lead to compounding growth in the long-term holdings of shareholders who opt in. Tax implications, especially across different jurisdictions, should also be considered, as they might affect the net benefit for the shareholders.
MONTREAL, May 08, 2024 (GLOBE NEWSWIRE) -- Osisko Gold Royalties Ltd (the “Company” or “Osisko”) (OR: TSX & NYSE) is pleased to announce that the Board of Directors has approved a second quarter 2024 dividend of C
For shareholders residing in the United States, the U.S. dollar equivalent will be determined based on the daily rate published by the Bank of Canada on June 28, 2024.
The Company also wishes to remind its shareholders that it has implemented a dividend reinvestment plan (the “Plan”). Shareholders who are residents of Canada and the United States may elect to participate in the Plan in connection with the dividend to be paid on July 15, 2024 to shareholders on record as of June 28, 2024. More details are available on Osisko’s website at http://osiskogr.com/en/dividends/drip/
Non-registered beneficial shareholders who wish to participate in the Plan should contact their financial advisor, broker, investment dealer, bank or other financial institution that holds their common shares to inquire about the applicable enrolment deadline and to request enrolment in the Plan. For more information on how to enroll or any other inquiries, contact our transfer agent at 1-800-387-0825 (toll-free in Canada) or shareholderinquiries@tmx.com.
Participation in the Plan does not relieve shareholders of any liability for taxes that may be payable in respect of dividends that are reinvested in common shares under the Plan. Shareholders should consult their tax advisors concerning the tax implications of their participation in the Plan having regard to their particular circumstances.
This press release is not an offer to sell or a solicitation of an offer to buy any securities in the United States or any other jurisdiction.
About Osisko Gold Royalties Ltd
Osisko Gold Royalties Ltd is an intermediate precious metal royalty company which holds a North American focused portfolio of over 185 royalties, streams and precious metal offtakes, including 19 producing assets. Osisko’s portfolio is anchored by its cornerstone asset, a 3
Osisko’s head office is located at 1100 Avenue des Canadiens-de-Montréal, Suite 300, Montréal, Québec, H3B 2S2.
| For further information, please contact Osisko Gold Royalties Ltd: | |
| Grant Moenting Vice President, Capital Markets Tel: (514) 940-0670 #116 Mobile: (365) 275-1954 Email: gmoenting@osiskogr.com | Heather Taylor Vice President, Sustainability & Communications Tel: (514) 940-0670 #105 Email: htaylor@osiskogr.com |
Forward-looking statements
Certain statements contained in this press release may be deemed "forward-looking statements" within the meaning of applicable Canadian and U.S. securities laws. These forward-looking statements, by their nature, require the Company to make certain assumptions and necessarily involve known and unknown risks and uncertainties that could cause actual results to differ materially from those expressed or implied in these forward-looking statements. Forward-looking statements are not guarantees of performance. In this news release, these forward-looking statements may involve, but are not limited to, comments with respect to the directors and officers of the Company, information pertaining to the fact that all conditions for payment of the dividend will be met and that such dividend will continue to be an “eligible dividend” as defined in the Income Tax Act (Canada). Words such as "may", "will", "would", "could", "expect", "believe", "plan", "anticipate", "intend", "estimate", "continue", or the negative or comparable terminology, as well as terms usually used in the future and the conditional, are intended to identify forward-looking statements. Information contained in forward-looking statements is based upon certain material assumptions that were applied in drawing a conclusion or making a forecast or projection, including that the financial situation of the Company will remain favourable. The Company considers its assumptions to be reasonable based on information currently available, but cautions the reader that its assumptions regarding future events, many of which are beyond the control of the Company, may ultimately prove to be incorrect since they are subject to risks and uncertainties that affect the Company and its business.
For additional information with respect to these and other factors and assumptions underlying the forward-looking statements made in this press release, see the section entitled “Risk Factors” in the most recent Annual Information Form of Osisko which is filed with the Canadian securities commissions and available electronically under Osisko’s issuer profile on SEDAR+ at www.sedarplus.com and with the U.S. Securities and Exchange Commission and available electronically under Osisko’s issuer profile on EDGAR at www.sec.gov. The forward-looking information set forth herein reflects Osisko’s expectations as at the date of this press release and is subject to change after such date. Osisko disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, other than as required by law.
FAQ
What is the dividend amount declared by Osisko for the second quarter of 2024?
When will the second quarter 2024 dividend be paid to shareholders?
What is the significance of the Osisko's dividend being an 'eligible dividend'?
Does Osisko offer a dividend reinvestment plan for its shareholders?
How can non-registered beneficial shareholders participate in Osisko's dividend reinvestment plan?
Is the press release an offer to sell securities?
