VANCOUVER, BC, Nov. 9, 2020 /CNW/ - Wheaton Precious Metals™ Corp. ("Wheaton" or the "Company") is pleased to announce that its Board of Directors has declared its fourth quarterly cash dividend payment for 2020 of US$0.12 per common share, a 20% increase relative to the prior period dividend.

Fourth Quarterly Dividend
The fourth quarterly cash dividend for 2020 of gross US$0.12 will be paid to holders of record of Wheaton Precious Metals common shares as of the close of business on November 25, 2020 and will be distributed on or about December 10, 2020 with an ex-dividend trading date anticipated to be December 8, 2020.

Under the Company's dividend policy, the quarterly dividend per common share is targeted to equal approximately 30% 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. To minimize volatility in quarterly dividends, the Company has set a minimum quarterly dividend of $0.10 per common share for the duration of 2020 representing an 11% increase relative to 2019. Under this policy, the forecast annualized dividend for 2020 would represent an increase of more than 90% over a five-year period.

The declaration, timing, amount and payment of future dividends remain at the discretion of the Board of Directors. This dividend qualifies as an 'eligible dividend' for Canadian income tax purposes.

Dividend Reinvestment Plan
The Company has previously implemented a Dividend Reinvestment Plan ("DRIP"). Participation in the DRIP is optional. For the purposes of this fourth quarterly dividend, the Company has elected to issue common shares under the DRIP through treasury at a 1% 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, as defined in the DRIP, or direct that such common shares be purchased in Market Acquisitions, as defined in the DRIP, at the prevailing market price, any of which would be publicly announced.

The DRIP and enrollment forms, including direct deposit, are available for download on the Company's website at www.wheatonpm.com, accessible by quick links directly from the home page, and can also be found in the 'investors' section, under the 'dividends' tab.

Registered shareholders may also enroll in the DRIP online through the plan agent's self-service web portal at: https://www.canstockta.com/en/InvestorServices/Investor_Information/Issuer_List/IssuerDetail.jsp?companyCode=1501.

Beneficial shareholders should contact their financial intermediary to arrange enrollment, where available. All shareholders considering enrollment in the DRIP should carefully review the terms of the DRIP and consult with their advisors as to the availability of and implications of enrollment in the DRIP.

This press release is not an offer to sell or a solicitation of an offer of 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 http://www.sec.gov. A written copy of the prospectus included in the registration statement may be obtained by contacting the Corporate Secretary of the Company at 1021 West Hastings Street, Suite 3500, Vancouver, British Columbia, Canada V6E 0C3.

CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS

This press release contains "forward-looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 and "forward-looking information" within the meaning of applicable Canadian securities legislation concerning the etc. etc. see & read more on
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WHEATON PRECIOUS METALS ANNOUNCES RECORD OPERATING CASH FLOW, REVENUE AND SALES VOLUMES IN THE FIRST NINE MONTHS OF 2020.

THIRD QUARTER AND NINE MONTHS FINANCIAL RESULTS

VANCOUVER, BC, Nov. 9, 2020 /CNW/ - Designated News Release - "Wheaton's high-quality portfolio of assets generated nearly $230 million in operating cash flow in the third quarter alone, resulting in a record of over $555 million in the first nine months of 2020. Given Wheaton's unique dividend policy, the strong cash flow in the quarter resulted in a 20% increase in our dividend," said Randy Smallwood, President and Chief Executive Officer of Wheaton Precious Metals. "In addition, production in the third quarter rebounded strongly following temporary suspensions of some operations as a result of the COVID-19 pandemic in the prior quarter, and the Company is on track to meet the higher end of our guidance."

"Wheaton continues to focus on delivering value to all of its stakeholders. To our partners and our communities, we have now deployed approximately $3 million of our COVID-19 response fund to support various programs globally. To our current shareholders, we substantially increased our dividend and continued to advance numerous new streaming opportunities that would add accretive growth to Wheaton's portfolio. And finally, to those investors that do not own our shares yet, we hope that our recently announced listing on the London Stock Exchange provides another point of entry and makes it easier to invest in Wheaton."

Third Quarter Highlights:

Over $228 million in operating cash flow in the quarter, an increase of 60% relative to Q3 2019.
Net debt1 reduced by $231 million resulting in a net debt position of $278 million.
Attributable gold equivalent2 production was 171,900 ounces in the quarter with the slight reduction relative to Q3 2019 primarily due to the mining of lower grade material at Salobo.
Declared quarterly dividend1 of $0.12 per common share, a 20% increase from Q2 2020.
Donated $3 million of the $5 million CSR Fund dedicated to combat COVID-19.
Operational Overview

(all figures in US dollars unless otherwise noted)
Q3 2020 Q3 2019 Change
Ounces produced
Gold 91,770 103,624 (11.4)%

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