Sprott Inc. Declares Second Quarter 2024 Dividend

Rhea-AI Summary

Sprott Inc. (NYSE/TSX: SII) has announced a second quarter 2024 dividend of US$0.25 per common share, payable on September 3, 2024, to shareholders of record as of August 19, 2024. The dividend will be paid in Canadian dollars for registered Canadian shareholders and beneficial holders through CDS, while others will receive it in U.S. dollars. The exchange rate for Canadian dollar payments will be based on the spot price on September 3, 2024. Shareholders can elect to change their dividend currency by contacting their broker or making arrangements with CDS before August 19, 2024. This dividend is designated as an eligible dividend for Canadian income tax purposes.

Positive

• Consistent dividend payment of US$0.25 per share
• Dividend designated as eligible for Canadian income tax purposes

Negative

• None.

Insights

Financial Analyst

Sprott's Q2 2024 dividend declaration of $0.25 per share maintains consistency with previous quarters, signaling stability in the company's financial position. This quarterly payout represents an annualized dividend yield of approximately 4.5% based on current share prices, which is relatively attractive in the financial services sector.

The dividend's currency flexibility for shareholders is a shareholder-friendly feature, allowing for personalized financial planning. However, investors should note that currency fluctuations may impact the actual value received. The dividend's designation as eligible for Canadian tax purposes adds an additional benefit for Canadian investors, potentially enhancing after-tax returns.

While the consistent dividend is positive, it's important to monitor Sprott's payout ratio and earnings growth to ensure long-term sustainability of these payments, especially given the volatile nature of the asset management industry.

Market Research Analyst

Sprott's dividend announcement, while routine, carries broader market implications. As a specialist in precious metals and real assets, Sprott's financial health can be seen as a barometer for investor sentiment in these alternative asset classes. The maintained dividend suggests stability in Sprott's business model despite market volatility.

Investors should consider this dividend in the context of macroeconomic trends. With ongoing inflation concerns and geopolitical uncertainties, Sprott's focus on precious metals could attract increased attention. However, the company's performance may be sensitive to fluctuations in commodity prices and changes in monetary policy.

The dual-listing on NYSE and TSX provides Sprott with access to a broad investor base, potentially supporting liquidity and valuation. As ESG investing gains traction, Sprott's position in the precious metals sector may face scrutiny, making it essential to monitor their sustainability practices and how they align with evolving investor preferences.

TORONTO, Aug. 06, 2024 (GLOBE NEWSWIRE) -- Sprott Inc. (“Sprott” or the “Company”) (NYSE/TSX: SII) announced today that its Board of Directors has declared a second quarter 2024 dividend of US$0.25 per common share, payable on September 3, 2024 to shareholders of record at the close of business on August 19, 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 September 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 August 19, 2024.

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

About Sprott

Sprott is a global leader in precious metals and critical materials investments. We are specialists. 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;
Head of Corporate Communications
(416) 943-4394
gwilliams@sprott.com 

FAQ

What is Sprott Inc.'s dividend amount for Q2 2024?

Sprott Inc. (SII) declared a dividend of US$0.25 per common share for the second quarter of 2024.

When is the payment date for Sprott Inc.'s Q2 2024 dividend?

The Q2 2024 dividend for Sprott Inc. (SII) is payable on September 3, 2024.

What is the record date for Sprott Inc.'s latest dividend?

The record date for Sprott Inc.'s (SII) Q2 2024 dividend is August 19, 2024.

In which currencies will Sprott Inc. pay its Q2 2024 dividend?

Sprott Inc. (SII) will pay its Q2 2024 dividend in Canadian dollars to Canadian shareholders and in U.S. dollars to shareholders outside Canada, with options to change the currency.