TORONTO, Jan. 27, 2022 /CNW/ - Franco-Nevada Corporation
is pleased to announce that its Board of Directors has raised its
quarterly dividend and declared a quarterly dividend of
US$0.32 per share payable on
March 31, 2022 to shareholders of
record on March 17, 2022 (the "Record
Date"). This is a 6.7% increase from the previous US$0.30 per share quarterly dividend and marks
the 15th consecutive annual increase for Franco-Nevada
shareholders. Canadian investors in Franco-Nevada's IPO in
December 2007 are now receiving an
effective 10.7% yield on their cost base. The Board of Directors
has determined to move its annual dividend reviews earlier in the
year than prior practice starting with 2022. The dividend policy
will now be reviewed at the beginning of the fiscal year so that
any increases to the dividend will be effective for the full fiscal
year rather than commencing in Q2 as in prior years. The dividend
has been declared in U.S. dollars and the Canadian dollar
equivalent will be determined based on the daily average rate
posted by the Bank of Canada on
the Record Date. Under Canadian tax legislation, Canadian resident
individuals who receive "eligible dividends" are entitled to an
enhanced gross-up and dividend tax credit on such dividends.
The Company has a Dividend Reinvestment Plan (the "DRIP").
Participation in the DRIP is optional. The Company will issue
additional common shares through treasury at a 3% discount to the
Average Market Price, as defined in the DRIP. However, the Company
may, from time to time, in its discretion, change or eliminate the
discount applicable to treasury acquisitions or direct that such
common shares be purchased in market acquisitions at the prevailing
market price, any of which would be publicly announced. The DRIP
and enrollment forms are available on the Company's website at
www.franco-nevada.com. Canadian and U.S. registered shareholders
may also enroll in the DRIP online through the plan agent's
self-service web portal at www.investorcentre.com/franco-nevada.
Canadian and U.S. beneficial shareholders should contact their
financial intermediary to arrange enrollment. Non-Canadian and
non-U.S. shareholders may potentially participate in the DRIP,
subject to the satisfaction of certain conditions. Non-Canadian and
non-U.S. shareholders should contact the Company to determine
whether they satisfy the necessary conditions to participate in the
DRIP.
This press release is not an offer to sell or a solicitation of
an offer for securities. A registration statement relating to the
DRIP has been filed with the U.S. Securities and Exchange
Commission and may be obtained under the Company's profile on the
U.S. Securities and Exchange Commission's website at
www.sec.gov.
Details for Upcoming Release of 2021 Results
2021 Results
Release:
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March 9th
after market close
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Conference Call and
Webcast:
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March 10th
10:00 am ET
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Dial‑in
Numbers:
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Toll‑Free:
1‑888‑390‑0546
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International:
416‑764‑8688
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Webcast:
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www.franco‑nevada.com
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Replay
(available until March 17th):
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Toll‑Free:
1‑888‑390‑0541
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International:
416‑764‑8677
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Pass code: 914584
#
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SOURCE Franco-Nevada Corporation