Royal Gold (RGLD) will raise its quarterly dividend by 4.8 percent to $0.22 per share in 2014. The new annual dividend of $0.88 translates into an estimated dividend yield of 1.2% for Royal Gold at the current stock price of $69.30.

Tony Jensen, President and CEO, said, “Today’s announcement marks the 14th consecutive year that Royal Gold has increased its annual dividend. While several companies in our industry are reducing or eliminating their dividends, Royal Gold continues to increase its return of capital to shareholders. We are pleased to be in a position where we are sufficiently well-capitalized to balance the pursuit of growth opportunities with our strategic objective to provide a growing and sustainable dividend.”

Royal Gold is a precious metals stream and royalty company engaged in the acquisition and management of precious metal streams, royalties, and similar production-based interests. The company owns interests on properties on multiple continents, including interests on producing mines and development stage projects. A royalty is a non-operating interest in a mining project that provides the right to revenue or metals produced from the project after deducting contractually specified costs, if any. The company originally began in 1981 as Royal Resources Corporation, an oil and gas exploration and production company. Royal Gold began operating in 1986.