Wheaton Precious Metals exceeds 2018 production guidance, declares dividend
Wheaton Precious Metals, (TSE: WPM) one of the largest precious metals streaming companies in the world, announced record gold production and sales in 2018 and declared a $0.09 per share first quarter dividend for 2019 on Wednesday.
In the fourth quarter of 2018, Wheaton generated almost $110 million in operating cash flow, bringing total operating cash flow for the year to over $475 million, founded on production of over 370,000 ounces of gold, 24 million ounces of silver and 14 thousand ounces of palladium, all in excess of the company’s guidance.
Wheaton exceeded production guidance for gold, silver and palladium by 5%, 9% and 41%, respectively, and annual gold production and sales in 2018 represented a record for the company, Wheaton said in a media statement.
Wheaton’s estimated attributable production in 2019 is forecast to be 365,000 ounces of gold, 24.5 million ounces of silver and 22,000 ounces of palladium, resulting in gold equivalent production of about 690,000 ounces.
For the five-year period ending in 2023, the company estimates that average, annual gold equivalent production will amount to 750,000 ounces.