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Royal Gold (RGLD) Raises Annual Dividend by 4.2% to $1
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Royal Gold, Inc. (RGLD - Free Report) 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.
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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Royal Gold (RGLD) Raises Annual Dividend by 4.2% to $1
Royal Gold, Inc. (RGLD - Free Report) 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 - Free Report) , Westlake Chemical Corporation (WLK - Free Report) and Kronos Worldwide Inc. (KRO - Free Report) . 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.
Zacks’ Best Private Investment Ideas
While we are happy to share many articles like this on the website, our best recommendations and most in-depth research are not available to the public.
Starting today, for the next month, you can follow all Zacks' private buys and sells in real time. Our experts cover all kinds of trades… from value to momentum . . . from stocks under $10 to ETF and option moves . . . from stocks that corporate insiders are buying up to companies that are about to report positive earnings surprises. You can even look inside exclusive portfolios that are normally closed to new investors.
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