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(Kitco News) - Gold-focused streaming and royalty company Triple Flag Precious Metals (TSX: TFPM) (NYSE: TFPM) announced on Tuesday that it generated record revenue of $52.6 million in Q2 2023, up 44% compared to Q2 2022 ($36.5 million).
The company said it also achieved record gold equivalent ounces sold (26,616 oz), operating cash flow ($40.9 million) and adjusted EBITDA ($41.6 million), adding that quarterly net earnings were $16.0 million or $0.08/share (Q2 2022: $10.9 million or $0.07/share).
Importantly, Triple Flag announced that its Board of Directors declared an increased quarterly dividend of $0.0525 per common share.
“This increases the annualized dividend by 5% from $0.20 per common share to $0.21 per share and is Triple Flag’s second consecutive annual increase of the dividend since its May 2021 initial public offering,” the company said.
CEO Shaun Usmar commented, “The solid performance of our portfolio has provided the basis for us to increase our annualized dividend by 5%, the second consecutive increase since we listed in 2021.”
“Looking forward, our deal pipeline remains consistently active with actionable opportunities, and we are especially encouraged by an increasing cadence of new discoveries, reserve replacement and expansion at multiple assets across the portfolio such as Northparkes and Beta Hunt, and a number of important catalysts and operational milestones achieved within our portfolio as detailed below.”
Triple Flag is a gold-focused streaming and royalty company. The company offers bespoke financing solutions to the metals and mining industry with exposure primarily to gold and silver in the Americas and Australia, with a total of 229 assets, including 15 streams and 214 royalties.
