Silver Wheaton Corp. (NYSE: SLW) disclosed that its Board has declared its second quarterly cash dividend of $0.05 a share. On an annualized basis, the dividend worked out to $0.20 a share. The dividend provided a yield of 1 percent.
Silver Wheaton indicated that the second quarterly cash dividend would be paid on or before June 2. The company has also fixed the record date of May 19 to determine the eligible shareholders name to pay the dividend.
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The company said that as per its dividend policy, the dividend would be equal to 20 percent of the average cash generated by operating activities in the previous four quarters divided by the Company's then outstanding common shares, all rounded to the nearest cent.
The dividend payout ratio was 43.0 percent for the quarter while the dividend payout ratio for the five-year average was 30.0%. In the last three-year period, the average drop in dividend rate was 19.5 percent.
On Monday, the stock traded 6.15 percent down.
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