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Franco-Nevada delivers record financial results, increases dividend

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(Kitco News) - Franco-Nevada reported today that the company delivered record financial results for the full-year 2020.

The company said that it sold 521,564 gold equivalent ounces in 2020, which is 1% more than in 2019. Revenue increased 21% to $1,020.2 million.

Franco-Nevada generated >$800 million in annual operating cash flow and increased quarterly dividend 15.4% to $0.30/share.

“In 2020, the challenges of the COVID-19 pandemic highlighted the diversity of our portfolio, the commitment of our staff, and the resolve of the employees and communities at our assets,” stated CEO Paul Brink. “With record precious metals prices through the year and the recovery of energy prices in the second half of the year, Franco-Nevada generated record financial results. We expect strong growth in 2021 and over the next 5 years.”

In 2021, the company expects attributable royalty and stream sales to total 555,000 to 585,000 GEOs from its mining assets and additional revenue of $115 to $135 million from its energy assets.

Franco-Nevada is the leading gold-focused royalty and streaming company with the largest and most diversified portfolio of cash-flow producing assets.

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