Mr. Vincent Metcalfe reports
NOMAD ROYALTY COMPANY UNVEILS DIVIDEND POLICY AND DECLARES INAUGURAL QUARTERLY DIVIDEND
Nomad Royalty Company Ltd.'s board of directors has adopted an annual dividend policy for the company of two cents per share, payable quarterly. The first quarterly dividend of 0.5 cent per common share will be payable on Oct. 15, 2020, to Nomad shareholders of record as of the close of business on Sept. 30, 2020.
The implementation of the company's dividend policy marks an important milestone for Nomad. As part of its long-term strategy, Nomad is firmly committed to returning capital to shareholders through a regular dividend in order to generate lasting, reliable and consistent returns for its shareholders.
"Launching the dividend policy enables Nomad to differentiate itself by joining a group of companies that are committed to returning capital to shareholders. We are very happy to achieve this objective and look to build on this initial dividend level," commented Vincent Metcalfe, Nomad's chief executive officer.
"The annual dividend of two cents per common share represents a 2.2-per-cent yield for investors who participated in our initial financing only a few months ago, and represents, based on our last closing price of $1.30 on the Toronto Stock Exchange, a significant yield of 1.5 per cent, which will position Nomad as a leading dividend payer in our sector," commented Joseph de la Plante, Nomad's chief investment officer.
For shareholders residing in the United States, the dividend will be paid in U.S. dollars based on the daily exchange rate published by the Bank of Canada on Sept. 30, 2020. The dividend has been designated by Nomad as an eligible dividend under the Income Tax Act (Canada).
About Nomad Royalty Company Ltd.
Nomad Royalty is a gold and silver royalty company that purchases rights to a percentage of the gold or silver produced from a mine, for the life of the mine. Nomad owns a portfolio of 10 royalty, stream and gold loan assets, of which five are on currently producing mines. Nomad plans to grow and diversify its low-cost production profile through the acquisition of additional producing and near-term producing gold and silver streams and royalties.
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