Royal Gold, Inc. (RGLD) will raise its quarterly dividend by 6.0 percent to $0.265 per share in the fourth quarter of 2018. This will mark the 18th consecutive year of higher dividend payments by royalty company.

The dividend is payable on January 18, 2019 to shareholders of record at the close of business on January 4, 2019. A new annualized dividend of $1.06 per share yields 1.5% at a stock price of $72.51 for RGLD.

Tony Jensen, President and CEO, commented, “Payment of a growing and sustainable dividend is a core strategic objective for Royal Gold, and I am pleased that Royal Gold’s Board of Directors has voted to increase our annual dividend for the 18(th) year in a row. Since 2001, we have increased our dividend regardless of the gold price and we have paid approximately $460 million in total dividends to shareholders.”

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.