Sprott Inc. Announces 20% Dividend Increase and Declares Third Quarter 2024 Dividend

Rhea-AI Summary

Sprott (NYSE/TSX: SII) has announced a 20% increase in its quarterly dividend, declaring a third quarter 2024 dividend of US$0.30 per common share. The dividend will be paid on December 3, 2024, to shareholders of record as of November 18, 2024. Canadian registered shareholders will receive payments in Canadian dollars, while international shareholders will receive US dollars. The dividend is designated as eligible for Canadian income tax purposes. Shareholders have options to elect their preferred currency for dividend payments through their respective depositories.

Positive

• 20% increase in quarterly dividend to US$0.30 per share
• Dividend maintains eligible status for Canadian tax purposes

Negative

• None.

Insights

Financial Analyst

The 20% dividend increase to $0.30 per share signals strong financial health and management's confidence in Sprott's future cash flows. For a company with a market cap of $1.1B, this meaningful dividend boost demonstrates commitment to shareholder returns and suggests robust underlying business performance. The dividend yield becomes more attractive, potentially drawing income-focused investors.

The international payment flexibility between USD and CAD currencies adds convenience for global investors, though the currency conversion mechanism may impact the actual received amount based on exchange rates. This strategic move aligns with broader market trends where companies are increasing shareholder returns amid strong commodity market conditions, particularly in precious metals where Sprott specializes.

TORONTO, Nov. 05, 2024 (GLOBE NEWSWIRE) -- Sprott Inc. (“Sprott” or the “Company”) (NYSE/TSX: SII) announced today that its Board of Directors has declared a third quarter 2024 dividend of US$0.30 per common share, an increase of 20% over the previous quarter’s dividend, payable on December 3, 2024 to shareholders of record at the close of business on November 18, 2024.

Registered shareholders who are residents of Canada as reflected in the Company’s shareholders register, as well as beneficial holders (i.e., shareholders who hold their common shares through a broker or other intermediary) whose intermediary is a participant in CDS Clearing and Depositary Services Inc. or its nominee, CDS & Co. (“CDS”), will receive their dividend in Canadian dollars, calculated based on the spot price exchange rate on December 3, 2024. Registered shareholders resident outside of Canada as reflected in Sprott’s shareholders register, including the United States, as well as beneficial holders whose intermediary is a participant in The Depository Trust Company or its nominee, Cede & Co., will receive their dividend in U.S. dollars. However, beneficial holders whose intermediary is a participant in CDS, may elect to change the currency of their dividend payments to U.S. dollars and can contact their broker for more details. Registered shareholders, other than CDS, who are residents of Canada and wish to receive their dividend in U.S. dollars should make arrangements to deposit their common shares with CDS, and make a currency election, prior to November 18, 2024.

The dividend is designated as an eligible dividend for Canadian income tax purposes.

About Sprott

Sprott is a global asset manager focused on precious metals and critical materials investments. We are specialists. We believe our in-depth knowledge, experience and relationships separate us from the generalists. Our investment strategies include Exchange Listed Products, Managed Equities and Private Strategies. Sprott has offices in Toronto, New York, Connecticut and California and the company’s common shares are listed on the New York Stock Exchange and the Toronto Stock Exchange under the symbol (SII). For more information, please visit www.sprott.com.

Investor contact information:

Glen Williams
Managing Partner
Investor and Institutional Client Relations
(416) 943-4394
gwilliams@sprott.com

FAQ

What is Sprott's new dividend amount for Q3 2024?

Sprott (SII) announced a Q3 2024 dividend of US$0.30 per common share, representing a 20% increase from the previous quarter.

When will Sprott (SII) pay its Q3 2024 dividend?

Sprott will pay its Q3 2024 dividend on December 3, 2024, to shareholders of record as of November 18, 2024.

How much did Sprott (SII) increase its dividend in Q3 2024?

Sprott increased its dividend by 20% compared to the previous quarter.

In what currency will Sprott (SII) pay dividends to Canadian shareholders?

Canadian registered shareholders will receive their dividends in Canadian dollars, calculated based on the spot exchange rate on December 3, 2024.