VANCOUVER, Nov. 5, 2012 /CNW/ - Silver Wheaton Corp. ("Silver Wheaton"
or the "Company") (TSX: SLW) (NYSE: SLW) is pleased to announce that
its Board of Directors has declared its fourth quarterly cash dividend
payment for 2012 of US$0.07 per common share. The quarterly dividend
will be paid to holders of record of its common shares as of the close
of business on November 21, 2012, and will be distributed on or about
December 5, 2012.
Under the Company's dividend policy, the quarterly dividend per common
share is equal to 20% of the cash generated by operating activities in
the previous quarter divided by the Company's outstanding common shares
at the time the dividend is approved, all rounded to the nearest cent.
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.
About Silver Wheaton
Silver Wheaton is the largest silver streaming company in the world.
Based upon its current agreements, forecast 2012 attributable
production is approximately 28 million silver equivalent ounces,
including 42,000 ounces of gold1. By 2016, annual attributable production is anticipated to increase
significantly to approximately 48 million silver equivalent ounces,
including 100,000 ounces of gold1. This growth is driven by the Company's portfolio of low-cost and
long-life assets, including silver and precious metal streams on
Barrick's Pascua-Lama project and Hudbay's flagship 777 mine and
CAUTIONARY NOTE REGARDING FORWARD LOOKING-STATEMENTS
The information contained herein 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. Forward-looking
statements, which are all statements other than statements of
historical fact, include, but are not limited to, statements with
respect to the future price of silver and gold, the estimation of
mineral reserves and resources, the realization of mineral reserve
estimates, the timing and amount of estimated future production, costs
of production, reserve determination, reserve conversion rates and
statements as to any future dividends. Generally, these forward-looking
statements can be identified by the use of forward-looking terminology
such as "plans", "expects" or "does not expect", "is expected",
"budget", "scheduled", "estimates", "forecasts", "intends",
"anticipates" or "does not anticipate", or "believes", or variations of
such words and phrases or statements that certain actions, events or
results "may", "could", "would", "might" or "will be taken", "occur" or
"be achieved". Forward-looking statements are subject to known and
unknown risks, uncertainties and other factors that may cause the
actual results, level of activity, performance or achievements of
Silver Wheaton to be materially different from those expressed or
implied by such forward-looking statements, including but not limited
to: fluctuations in the price of silver and gold; the absence of
control over mining operations from which Silver Wheaton purchases
silver or gold and risks related to these mining operations including
risks related to fluctuations in the price of the primary commodities
mined at such operations, actual results of mining and exploration
activities, economic and political risks of the jurisdictions in which
the mining operations are located and changes in project parameters as
plans continue to be refined; and differences in the interpretation or
application of tax laws and regulations; as well as those factors
discussed in the section entitled "Description of the Business - Risk
Factors" in Silver Wheaton's Annual Information Form available on SEDAR
at www.sedar.com and in Silver Wheaton's Form 40-F on file with the U.S. Securities and
Exchange Commission in Washington, D.C. Forward-looking statements are
based on assumptions management believes to be reasonable, including
but not limited to: the continued operation of the mining operations
from which Silver Wheaton purchases silver or gold, no material adverse
change in the market price of commodities, that the mining operations
will operate and the mining projects will be completed in accordance
with their public statements and achieve their stated production
outcomes, and such other assumptions and factors as set out herein.
Although Silver Wheaton has attempted to identify important factors
that could cause actual results to differ materially from those
contained in forward-looking statements, there may be other factors
that cause results not to be as anticipated, estimated or intended.
There can be no assurance that forward-looking statements will prove to
be accurate. Accordingly, readers should not place undue reliance on
forward-looking statements. Silver Wheaton does not undertake to update
any forward-looking statements that are included or incorporated by
reference herein, except in accordance with applicable securities laws.
1 Silver equivalent production forecast assumes a gold/silver ratio of
SOURCE: Silver Wheaton Corp.
For further information:
Vice President, Investor Relations
Silver Wheaton Corp.