Gold Royalty Corp. Announces Quarterly Dividend as Gold Races Higher

Gold Royalty Corp. (NYSE-American: GROY) — currently trading around US$4.80 per share — has commenced a quarterly dividend program starting with an inaugural quarterly cash dividend of US$0.01 per common share payable to shareholders of record.

This marks an important milestone for GROY and its shareholders. It essentially puts the company on par with the mid-tiers and majors in terms of being able to pay out a cash dividend… an achievement few juniors can match.  

Gold Royalty CEO David Garofalo — whom you’re about to hear from directly via our exclusive interview — commented via press release:

“The announcement of our inaugural dividend represents a key milestone for Gold Royalty, providing our shareholders with a competitive yield, and is a natural consequence of the rapid growth we have experienced since our IPO in March 2021…”

From a speculation standpoint, GROY continues to deliver on its intelligent and aggressive growth strategy, expanding to over 190 royalties across the Americas including 6 royalties on producing mines with a further 7 royalties on mines under development.

The company’s robust portfolio is heavily weighted in the Tier-1 mining jurisdictions of Quebec and Nevada and is anchored by a 3% net smelter return (NSR) royalty on a significant portion of the Canadian Malartic Odyssey underground gold project located in northwestern Quebec. 

This is truly a generational royalty asset for GROY. Major operators Agnico Eagle and Yamana approved construction of the Odyssey project last year; estimated annual production of 500,000 to 600,000 gold ounces is expected to commence next year and run through 2039.

With gold racing higher to start the new year, Gold Royalty Corporation has quickly established itself as one-to-watch in the junior gold royalty space.  

It’s not the only one. 

Royalty companies are typically the first to move when gold gets going like it is now. 

And Gerardo has his eye on another one with ten-bagger potential as gold comes back into favor. 

See why this group of stocks is poised to outperform as the rest of the market struggles.

Yours in profits,

 
Mike Fagan
Editor, Resource Stock Digest