Royal Gold, Inc. (RGLD) will raise its quarterly dividend to $0.24 per share. The dividend is payable on January 20, 2017 to shareholders of record at the close of business on January 6, 2017.

Tony Jensen, President and CEO, commented, "One of Royal Gold's strategic objectives is to pay a growing and sustainable dividend, reflecting the strength of our business. Today, we honor that objective for the sixteenth straight year. Our board's decision to increase our 2017 annual dividend to $0.96 per share is consistent with the belief that Royal Gold should provide an industry leading return of capital to shareholders in a sustainable manner."

Based on Tuesday's $69.26 closing price the new dividend yield for Royal Gold is 1.4%. The stock has gained 89% year-to-date.

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.