Osisko Declares First Quarter 2024 Dividend
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Insights
The announcement of Osisko Gold Royalties Ltd's first quarter 2024 dividend of C$0.06 per common share is a reflection of the company's current financial health and its ability to return value to shareholders. Dividends are often a sign of a company's confidence in its stable cash flow and profitability. In this case, the declared dividend could indicate that Osisko is experiencing solid financial performance, which may be attributable to favorable gold market conditions or efficient operations.
Investors typically view dividend announcements positively as they provide a direct return on investment. However, the size of the dividend relative to the company's earnings per share (EPS) is crucial. A payout that is too high could suggest that the company is not reinvesting enough back into its operations, which could be detrimental in the long-term. Conversely, a low payout might imply that the company is reinvesting in growth or that it is conserving cash due to potential challenges ahead.
The classification of the dividend as an 'eligible dividend' for Canadian income tax purposes implies that it qualifies for the enhanced dividend tax credit. Canadian resident shareholders would benefit from a more favorable tax treatment, potentially increasing the after-tax return on their investment. For U.S. shareholders, the conversion of the dividend to U.S. dollars based on the Bank of Canada's daily rate ensures they are impacted by currency exchange fluctuations, which could either enhance or diminish the value of the dividend received, depending on the prevailing exchange rates on the conversion date.
Osisko's dividend reinvestment plan (DRIP) allows shareholders to reinvest their dividends into additional shares, often at a discount to the market price. This can be an attractive option for long-term investors looking to compound their holdings. The availability of the DRIP to both Canadian and U.S. residents expands the investor base that can take advantage of this opportunity. The impact of DRIPs on the stock market is generally positive, as they can lead to increased demand for a company's shares and potentially support the share price over time. However, it is important for investors to consider their individual investment goals and tax implications before participating in such plans.
MONTREAL, Feb. 20, 2024 (GLOBE NEWSWIRE) -- Osisko Gold Royalties Ltd (the “Company” or “Osisko”) (OR: TSX & NYSE) is pleased to announce a first 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 March 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 April 15, 2024 to shareholders on record as of March 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 180 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 per common share for Osisko Gold Royalties Ltd?
When will the dividend be paid to shareholders of Osisko Gold Royalties Ltd?
Does Osisko Gold Royalties Ltd offer a dividend reinvestment plan?
How can non-registered beneficial shareholders participate in Osisko Gold Royalties Ltd's dividend reinvestment plan?
