Royal Gold, Inc. (RGLD) will raise its quarterly dividend by 7.1 percent to 30 cents per share in 2020. This follows a 5.7 percent dividend hike to $0.28 per share in 2019 and will mark the 20th consecutive year of higher dividend payments by royalty company.

The next dividend is payable on January 22, 2021 to shareholders of record at the close of business on January 8, 201. A new annual rate of $1.20 per share yields 1.1% at a stock price of $109.60.

In the press release dated November 17, 2020 the company comments on this new dividend hike just announced: “Royal Gold considers returning capital to shareholders through a growing and sustainable dividend to be a core component of our capital allocation strategy,” commented Bill Heissenbuttel, President and CEO of Royal Gold. “Royal Gold has paid approximately $600 million back to shareholders since we began dividend payments in 2000, and today’s increase represents the 20th consecutive annual dividend increase. Royal Gold is one of the original members of the VanEck Vectors Gold Miners ETF (the “GDX”), which was formed in 2006, and we are the only company in the GDX that has paid an increasing dividend every year, regardless of the gold price.”

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.