Silver Wheaton's second quarterly cash dividend payment for 2013 is US$0.12 per common share. The dividend will be paid to holders of record of its common shares as of the close of business on May 23, 2013, and will be distributed on or about May 31, 2013.
Silver Wheaton is pleased to announce that its Board of Directors has amended the Company's dividend policy in order to increase the stability of the dividend. Commencing in Q1, 2013, the quarterly dividend per common share will be equal to 20% of the average cash generated by operating activities in the previous four quarters divided by the Company's outstanding common shares at the time the dividend is approved, all rounded to the nearest cent.
As a transitionary measure, however, the second quarterly dividend has been calculated using the average cash generated by operating activities for the trailing two quarters (fourth quarter of 2012 and first quarter of 2013). The third quarterly dividend in 2013 will be calculated using the average cash generated by operating activities for the trailing three quarters (fourth quarter 2012, first quarter 2013 and second quarter 2013), after which future quarterly dividends will be calculated using the average cash generated by operating activities for the trailing four quarters
*Silver equivalent o
perating cash costs are US$4.39/oz (with an inflationary adjustment of approximately 1% per annum after the third year of production)
Dividend History
| EX Dividend Date |
Record Date |
Payable Date |
Amount |
| March 17, 2011 |
March 21, 2011 |
March 31, 2011 |
US$0.03 |
| June 16, 2011 |
June 20, 2011 |
June 30, 2011 |
US$0.03 |
| September 16, 2011 |
September 20, 2011 |
September 30, 2011 |
US$0.03 |
| November 21, 2011 |
November 23, 2011 |
December 5, 2011 |
US$0.09 |
| April 2, 2012 |
April 4, 2012 |
April 17, 2012 |
US$0.09 |
| May 21, 2012 |
May 23, 2012 |
June 6, 2012 |
US$0.09 |
| August 28, 2012 |
August 30, 2012 |
September 13, 2012 |
US$0.10 |
| November 19, 2012 |
November 21, 2012 |
December 5, 2012 |
US$0.07 |
| March 28, 2013 |
April 2, 2013 |
April 12, 2013 |
US$0.14 |
| May 21, 2013 |
May 23, 2013 |
May 31, 2013 |
US$0.12 |
The declaration and payment of dividends remains at the discretion of the Board and will depend on the company’s cash requirements, future prospects and other factors deemed relevant by the Board of Directors. The company does not currently offer a dividend reinvestment program (DRIP).
Pursuant to Canadian tax legislation, Canadian resident individuals who receive ‘eligible dividends’ will be entitled to an enhanced gross-up and dividend tax credit on such dividends. The company has designated that all dividends paid are ‘eligible dividends’ for these purposes.