|METALLA RAISES MONTHLY DIVIDEND BY 50% AND ANNOUNCES FISCAL 2018 Q-3 PRODUCTION
TSXV: MTA OTCQX: MTAFF Frankfurt: X9CP
Metalla Royalty & Streaming Ltd. announces preliminary production results for the 3 months ended February 28, 2018 of 96,542 ounces of Silver sold and provisionally invoiced.
In addition, Metalla held 35,473 Oz. Silver of attributable inventory to be realized in the subsequent quarter. Metalla expects fiscal Q-3 financial statements and MD&A to be released toward the end of April 2018.
Metalla is pleased to announce that its board of directors has approved and declared a monthly cash dividend payment of CAD$ 0.001 per share for April and May 2018 and CAD$0.0015 per share for June 2018 on its common shares for the upcoming Quarter (subject to any applicable tax withholding obligations).
The table below sets out the monthly record and payment dates for shareholders of record.
The Company plans to expand its dividend over the course of the year targeting a payout ratio up to 50% of its operating cash flow after taxes and G&A.
The dividend should give shareholders a link to Gold and Silver prices and performance of the Company’s royalties and streams.
||Payment Amount ($CAD)
||April 2, 2018
||April 16, 2018
||May 1, 2018
||May 15, 2018
||June 1, 2018
||June 15, 2018
In the future, and assuming compliance with all applicable securities laws, the Company plans to offer a Dividend Reinvestment Plan (“DRIP”) once it reaches certain requirements to efficiently provide the DRIP to all of its shareholders.
Brett Heath, Metalla’s President & CEO commented, “For the third quarter of fiscal 2018, our revenue and cash flow continue to support our growing dividend program.”
Mr. Heath also said, “The increased dividend beginning in June will yield 2.7% on an annual basis based on our current share price of CAD$0.68. This makes Metalla one of the highest yielding precious metal royalty and streaming stocks. It also means shareholders have a material link to the Company’s growth and precious metal prices. We will continue to grow our cash flow and dividend through accretive transactions.”
Metalla is a precious metals royalty and streaming company. Metalla provides shareholders with precious metal exposure through a diversified portfolio of royalties and streams.
Our strong foundation of current and future cash-generating asset base, combined with an experienced team gives Metalla a path to become one of the leading precious metal royalty and streaming companies for the next commodities cycle.
For further information, please visit Metalla’s website at www.metallaroyalty.com