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Osisko Gold Royalties reports record operating cash flow in Q2, ups dividend

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(Kitco News) - Osisko Gold Royalties (TSX: OR; NYSE: OR) today announced that the company earned 20,178 gold equivalent ounces ("GEOs") in Q2 2021 compared to 12,245 GEOs in Q2 2020.

The company posted record Q2 2021 revenues from royalties and streams of $49.9 million (Q2 2020 – $28.7 million), and record operating cash flows from the royalties and streams segment of $37.3 million.

Net loss attributable to Osisko's shareholders was $14.8 million, or $0.09 per basic share (Q2 2020 – net earnings of $13.0 million, or $0.08 per basic share), as a result of an impairment charge of $36.1 million on the Bonanza Ledge Phase 2 project, operated by Osisko Development. Adjusted earnings were $20.2 million, or $0.12 per basic share (Q2 2020 – $5.7 million, or $0.03 per basic share).

Additionally, the company announced that its quarterly dividend increased by 10% to $0.055 per share (annualized dividend of $0.22 per share), payable on October 15, 2021 to shareholders of record as of the close of business on September 30, 2021.

Osisko Gold Royalties is an intermediate precious metal royalty company focused on the Americas that commenced activities in June 2014. Osisko holds a North American focused portfolio of over 150 royalties, streams and precious metal offtakes. Osisko's portfolio is anchored by its cornerstone asset, a 5% net smelter return royalty on the Canadian Malartic mine, which is the largest gold mine in Canada.

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