Make Kitco Your Homepage

Osisko Gold Royalties announces record quarter, increases dividend

Kitco News

Osisko Gold Royalties (OR: TSX & NYSE) said today in its second quarter it had record revenues of $49.9 million, up from $28.7 million during the same quarter a year ago.

The company announced a quarterly dividend increase of 10% to $0.055 per share.

Osisko amended its revolving credit facility and increased the amount available by $150.0 million to $550.0 million.

Sandeep Singh, President and CEO of Osisko, said the updated credit facility came at favorable terms.

“The increase and extension of our credit facility, at a reduced cost of capital, also demonstrates the confidence of our lenders in our business and increases our financial flexibility and ability to pursue growth opportunities," said Singh.

"On the back of strong first half 2021 results and our ongoing financial strength, we have prioritized returns to shareholders and increased our quarterly dividend by 10%. Our high margin business affords us the ability to continue, and increase, returns to investors despite a volatile market.”

Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.