Vox Royalty Corp (TSX-V:VOX) has initiated its first dividend for shareholders after record quarter royalty receipts.
The precious metals royalty company announced it is initiating a dividend of US$0.01 per share starting in the fourth quarter of 2022.
The dividend will be paid on November 4, 2022 to shareholders of record as of the close of business on October 21, 2022.
READ: Vox Royalty primed for growth as it adds new royalties to its portfolio of ‘under the radar’ third-party royalties
Vox CEO Kyle Floyd told shareholders that the initiation of a quarterly dividend program followed back-to-back record quarterly royalty receipts.
“The performance of our royalty portfolio continues to exceed management expectations and validate our technical due diligence,” Floyd said in a statement.
“The launch of a quarterly dividend is a major milestone for Vox shareholders. Vox continues to take a balanced approach between capital returns to investors and future accretive royalty acquisitions.”
The declared dividend represents an approximate 1.8% yield on an annualized basis, based on the closing price of C$2.98 as of September 19.
“As additional Vox royalties start cash-flowing, management will continue to assess potential increases to the quarterly dividend,” Floyd added.
Canadian shareholders will receive the dividend in Canadian dollars based on the daily exchange rate published by the Bank of Canada on October 21, 2022.
Toronto-based Vox owns a portfolio of over 50 royalties and streams spanning eight jurisdictions.
Contact Angela at angela@proactiveinvestors.com
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