Investors in Wheaton Precious Metals (NYSE:WPM) Corp. should note that to be eligible for the upcoming dividend payment, they need to hold shares by November 27th. The company has declared a dividend of $0.15 per share, which is scheduled for distribution on December 8th. This dividend amount marks a change from the total of $0.60 per share paid last year and comes at a trailing yield of 1.3%, with the share price recorded at CA$64.36.
Wheaton's financial strategy emphasizes the sustainability of dividends, committing a substantial portion of its profit (51%) and free cash flow (61%) to shareholder returns. This approach is supported by the firm's significant earnings growth, which has been reported at an annual rate of 55% over the past five years. Additionally, Wheaton has demonstrated a consistent commitment to increasing shareholder value, with dividends rising on average by 2.9% annually over the last decade. These figures underline the company's robust performance and its focus on rewarding its shareholders.
InvestingPro Insights
Investors considering Wheaton Precious Metals Corp. for its dividend prospects will find additional encouraging data from InvestingPro. With a market capitalization of $21.29 billion, Wheaton is a significant player in the precious metals industry. The company's commitment to shareholder returns is evident, as it has raised its dividend for three consecutive years, an InvestingPro Tip that aligns with its financial strategy of sustainable dividends.
Another InvestingPro Tip to note is that analysts have a positive outlook on Wheaton's earnings, with three analysts having revised their earnings upwards for the upcoming period. This is a promising sign for potential growth and continued dividend payouts. Moreover, the company is praised for maintaining dividend payments for 13 consecutive years, showcasing its reliability in returning value to shareholders.
In terms of financial health, Wheaton trades at a high earnings multiple, with a P/E ratio of 39.95 and an adjusted P/E ratio for the last twelve months as of Q3 2023 at 43.6. Despite a revenue decline of 15.23% over the last twelve months as of Q3 2023, the company still boasts a substantial gross profit margin of 76.33%, indicating efficient operations and strong profitability potential.
For those interested in diving deeper into Wheaton's financials and gaining more insights, InvestingPro offers a wealth of additional tips. Currently, there are 12 more InvestingPro Tips available for Wheaton Precious Metals Corp., which can be accessed through an InvestingPro subscription. And with a special Black Friday sale offering up to a 55% discount, now is an opportune time to unlock the full potential of InvestingPro's analysis and data.
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