Wheaton Precious Metals (WPM) will raise its quarterly dividend by another 20.0 percent in 2020. This follows a 11.1 percent dividend hike to $0.10 per share announced earlier in 2020 and marks the fourth year of higher dividends in the last five years.

The next dividend will be paid to holders of record of Wheaton Precious Metals common shares as of the close of business on November 25, 2020 and will be distributed on or about December 10, 2020 with an ex-dividend trading date anticipated to be December 8, 2020. A new annual dividend rate of 48 cents yields 1.0% at a stock price of $46.50.

In the company's press release dated November 9, 2020 WPM mentions that under the Company's dividend policy, the quarterly dividend per common share is targeted to equal approximately 30% of the average cash generated by operating activities in the previous four quarters divided by the Company's then outstanding common shares, all rounded to the nearest cent. To minimize volatility in quarterly dividends, the Company has set a minimum quarterly dividend of $0.10 per common share for the duration of 2020 representing an 11% increase relative to 2019. Under this policy, the forecast annualized dividend for 2020 would represent an increase of more than 90% over a five-year period.

Wheaton Precious Metals Corp. is a pure precious metals streaming company which generates its revenue primarily from the sale of precious metals (gold, silver and palladium). The company has entered into long-term purchase agreements with different mining companies, for the purchase of precious metals and cobalt relating to mining assets which are currently operating or at various stages of development. Wheaton acquires metal production from the counterparties for an initial upfront payment plus an additional cash payment foreach ounce or pound delivered which is fixed by contract, generally at or below the prevailing market price. Wheaton Precious Metals (WPM), formerly Silver Wheaton (SLW), has paid a dividend every year since 2011.