Altius increases regular dividend by 40% on “positive long-term outlook” for its royalty business

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(Kitco News) – Altius Minerals (TSX: ALS; OTCQX: ATUSF) reported attributable royalty income of $ 21.9 million ($ 0.53 per share) for the quarter ended June 30, 2021, an increase 23% over its first quarter 2021 royalty income of $ 17.8 million ($ 0.43 per share) and 68% over its comparable quarter year-over-year, when 13 .0 million dollars were declared.

Adjusted EBITDA for the quarter was $ 17.7 million or $ 0.43 per share, up 21% from Adjusted EBITDA of $ 14.6 million ($ 0.35 per share) in the first quarter 2021, and up 76% from the comparable quarter of the second quarter of 2020, where $ 10 million ($ 0.24 per share) was reported. The adjusted EBITDA margin for the second quarter was 81%.

Second quarter 2021 net income was $ 14.6 million and, on an adjusted basis, $ 10.5 million or $ 0.25 per share, compared to adjusted earnings of $ 6.1 million or $ 0.14 per share in the first quarter of 2021 and adjusted earnings of $ 1.4 million or $ 0.04 per share in the second quarter of 2021..

The company also said its board of directors chose to increase its regular quarterly dividend by 40%, from $ 0.05 to $ 0.07 per common share, reflecting its positive long-term outlook for its business. The current quarterly dividend is payable to all shareholders of record at the close of business on August 31, 2021.

Altius emphasized that its strategy is to create growth per share through a diversified portfolio of royalty assets linked to long-term, high-margin operations. Altius’ exposures to commodities including copper, renewable electricity, several key metals for batteries (lithium, nickel and cobalt), clean iron ore and potash.

Warning: The opinions expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure the accuracy of the information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is for informational purposes only. This is not a solicitation to trade in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article accept no responsibility for any loss and / or damage resulting from the use of this publication.


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