Brett Heath reports
METALLA RAISES MONTHLY DIVIDEND BY 50% AND ANNOUNCES FISCAL 2018 Q3 PRODUCTION
Metalla Royalty and Streaming Ltd. had preliminary production results for the three months ended Feb. 28, 2018, of 96,542 ounces of silver sold and provisionally invoiced. In addition, Metalla held 35,473 ounces silver of attributable inventory to be realized in the subsequent quarter. Metalla expects fiscal Q3 financial statements and management discussion and analysis to be released toward the end of April, 2018.
Metalla's board of directors has approved and declared a monthly cash dividend payment of 0.1 cent per share for April and May, 2018, and 0.15 cent per share for June, 2018, on its common shares for the coming quarter (subject to any applicable tax withholding obligations).
The attached table sets out the monthly record and payment dates for shareholders of record. The company plans to expand its dividend over the course of the year, targeting a payout ratio up to 50 per cent of its operating cash flow after taxes and G&A (general and administrative) expenses. The dividend should give shareholders a link to gold and silver prices and performance of the company's royalties and streams.
Record date Payment date Payment amount
April April 2, 2018 April 16, 2018 $0.001
May May 1, 2018 May 15, 2018 $0.001
June June 1, 2018 June 15, 2018 $0.0015
In the future and assuming compliance with all applicable securities laws, the company plans to offer a dividend reinvestment plan (DRIP) once it reaches certain requirements to efficiently provide the DRIP to all of its shareholders.
Brett Heath, Metalla's president and chief executive officer, commented, "For the third quarter of fiscal 2018, our revenue and cash flow continue to support our growing dividend program." Mr. Heath continued: "The increased dividend beginning in June will yield 2.7 per cent on an annual basis based on our current share price of 68 cents. This makes Metalla one of the highest-yielding precious metal royalty and streaming stocks. It also means shareholders have a material link to the company's growth and precious metal prices. We will continue to grow our cash flow and dividend through accretive transactions."
The technical information contained in this news release has been reviewed and approved by Charles Beaudry, geologist, MSc, a member of the Association of Professional Geoscientists of Ontario and of the Ordre des Geologues du Quebec. Mr. Beaudry is a qualified person as defined in National Instrument 43-101, Standards of Disclosure for Mineral Projects.
About Metalla Royalty and Streaming Ltd.
Metalla is a precious metal royalty and streaming company. Metalla provides shareholders with precious metal exposure through a diversified portfolio of royalties and streams. The company's strong foundation of current and future cash-generating asset base, combined with an experienced team, gives Metalla a path to become one of the leading precious metal royalty and streaming companies for the next commodity cycle.
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