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Sprott announces Q1 2024 dividend of $0.25 per share

EditorNatashya Angelica
Published 05/07/2024, 02:13 PM

TORONTO - Sprott Inc. (NYSE/TSX: SII), a global leader in precious metals and critical materials investments, has declared a quarterly dividend of US$0.25 per common share for the first quarter of 2024. The dividend is payable on June 5, 2024, to shareholders on record as of May 21, 2024.

The company specified that registered shareholders in Canada, according to Sprott's shareholder register, as well as beneficial holders with shares held through intermediaries participating in CDS Clearing and Depositary Services Inc. or its nominee, CDS & Co., will receive their dividend in Canadian dollars. The amount will be determined by the spot price exchange rate on the day of payment.

Shareholders residing outside of Canada, including those in the United States, as well as beneficial holders whose intermediary is a participant in The Depository Trust Company or its nominee, Cede & Co., will receive their dividend in U.S. dollars. Beneficial holders with intermediaries in CDS have the option to elect to receive their dividend in U.S. dollars and should contact their broker for more information.

Furthermore, registered shareholders in Canada who are not part of CDS and wish to receive their dividend in U.S. dollars are advised to arrange for their common shares to be deposited with CDS and make a currency election before the May 21, 2024 deadline.

The announced dividend is designated as an eligible dividend for Canadian income tax purposes, which could be advantageous for Canadian taxpayers.

Sprott's expertise in the precious metals and critical materials sectors is underscored by its specialized investment strategies, which include Exchange Listed Products, Managed Equities, and Private Strategies. With offices located in Toronto, New York, Connecticut, and California, Sprott stands as a specialized entity in its field, differentiating itself from more generalist financial institutions.

The company's common shares are traded on both the New York Stock Exchange and the Toronto Stock Exchange under the ticker symbol SII. This dividend announcement is based on a press release statement issued by Sprott Inc.

InvestingPro Insights

Sprott Inc. (NYSE/TSX: SII) has recently announced its quarterly dividend, affirming its commitment to rewarding shareholders. This is in line with one of the InvestingPro Tips that highlights the company's track record of maintaining dividend payments for 17 consecutive years. Moreover, the same source suggests that Sprott Inc. is trading at a low P/E ratio relative to near-term earnings growth, which could indicate a potential undervaluation of the company's stock.

Examining the real-time metrics from InvestingPro, Sprott Inc. boasts a market capitalization of $1.04 billion USD, reflecting its substantial presence in the precious metals and critical materials investment sector. The company also shows a promising P/E ratio of 20.75 when adjusted for the last twelve months as of Q4 2023.

This, combined with a PEG ratio of just 0.18 for the same period, suggests that the stock could have room for growth when considering its earnings trajectory. Furthermore, the revenue growth for Sprott Inc. has been robust, with a 16.42% increase over the last twelve months as of Q4 2023, underlining the company's financial health and potential for further expansion.

For investors interested in deeper insights and additional metrics, there are more InvestingPro Tips available, which could provide a more comprehensive investment picture. To explore these insights and leverage the full suite of tools, consider using the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription at InvestingPro.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

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