Yahoo Finance Royal Gold (RGLD) Raises Annual Dividend by 4.2% to $1
Royal Gold, Inc. RGLD declared that its board has hiked the company’s annual dividend for shares of common stock by roughly 4.2% to $1 per share from 96 cents, which will be payable on a quarterly basis of 25 cents per share.
The dividend is payable on Jan 19, 2018 to shareholders of record at the close of business as of Jan 5, 2018.
Notably, this is the 17th consecutive annual dividend hike declared by the company. The latest move is in line with Royal Gold’s strategic objective to pay a growing and sustainable dividend to shareholders. The company is not only generating robust cash flows but remains on track with its debt-reduction initiatives.
Royal Gold’s shares have declined 2.2% in the past three months outperforming the industry’s 2.8% fall.
Royal Gold reported net income attributable to stockholders of $28.6 million, or 44 cents per share, in first-quarter fiscal 2018 (ended Sep 30, 2017), compared with a net income of $29.8 million or 46 cents recorded a year ago. Earnings per share beat the Zacks Consensus Estimate of 37 cents.
Total revenues were $112.5 million in the reported quarter, down about 4.6% from $117.9 million recorded a year ago. The figure trailed the Zacks Consensus Estimate of $114 million.
Net cash provided by operating activities totaled $71.6 million for the quarter, a roughly 30% year over year increase. This was the second-highest quarterly cash flow in the company's history. At the end of the quarter, the company had cash and cash equivalents of $88.4 million.
Royal Gold, Inc. Price and Consensus
Royal Gold, Inc. Price and Consensus | Royal Gold, Inc. Quote
Zacks Rank & Stocks to Consider
Royal Gold currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the basic materials space are ArcelorMittal MT, Westlake Chemical Corporation WLK and Kronos Worldwide Inc. KRO. All three stocks sport a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks Rank #1 stocks here.
ArcelorMittal has an expected long-term earnings growth rate of 11.3%. Its shares have moved up 27.5% year to date.
Westlake Chemical has an expected long-term earnings growth rate of 8.4%. Its shares have rallied 61.8% year to date.
Kronos Worldwide has an expected long-term earnings growth rate of 5%. Its shares have surged a whopping 122.4% year to date.
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