VANCOUVER, BC, May 5, 2022 /CNW/ - "Wheaton once again had a solid start to the year, generating over $210 million in operating cash flow and continuing to return value to our shareholders through our competitive dividend," said Randy Smallwood, President and Chief Executive Officer of Wheaton Precious Metals. "In the first three months of 2022, we added two new streams and increased our interest in a pre-existing stream. In addition, we took a significant step in strengthening our environmental, social and governance strategy by formalizing our climate change policy, including setting a goal of reaching net zero carbon emissions by 2050. The year is off to a good start, and I look forward to advancing on all of our initiatives throughout the year in order to continue building a strong, sustainable business, that delivers value and growth to all of our stakeholders."

First Quarter 2022 Highlights:

Over $305 million in revenue and $210 million in operating cash flow during the quarter, resulting in a net cash balance of $376 million as at March 31, 2022.
$158 million in adjusted net earnings1 during the first quarter of 2022.
Announced a new precious metal purchase agreement ("PMPA") on Adventus Mining Corporation's Curipamba Project in respect of gold and silver production.
Announced PMPA on Sabina Gold & Silver Corp.'s Goose Project in respect of gold production.
Amended the PMPA on Aris Gold Corp.'s Marmato Mine, increasing the gold stream in exchange for additional upfront consideration.
Adopted a climate change policy and commitment to net zero carbon emissions by 2050.
Declared quarterly dividend1 of $0.15 per common share, an increase of 7% relative to the comparable period in 2021.
Operational Overview

(all figures in US dollars unless otherwise noted)
Q1 2022 Q1 2021. Chang

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WHEATON PRECIOUS METALS DECLARES QUARTERLY DIVIDEND.
VANCOUVER, BC, May 5, 2022 /CNW/ - Wheaton Precious Metals™ Corp. ("Wheaton" or the "Company") is pleased to announce that its Board of Directors has declared its second quarterly cash dividend payment for 2022 of US$0.15 per common share.

Second Quarterly Dividend
The second quarterly cash dividend for 2022 of US$0.15 will be paid to holders of record of Wheaton common shares as of the close of business on May 20, 2022 and will be distributed on or about June 3, 2022. The ex-dividend trading date is May 19, 2022.

Under the Company's revised dividend policy, for the 2022 calendar year, the quarterly dividend per common share is targeted to equal the greater of 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 and the dividend declared in the prior quarter. To minimize volatility in quarterly dividends, the Company has set a minimum quarterly dividend for the duration of 2022 equal to the dividend per common share declared in the prior quarter.

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 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, 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://tsxtrust.com/DRIP