TORONTO, Jan. 10 /CNW/ - Sprott Inc. (TSX: SII) today declared an
interim special eligible dividend of $0.60 per common share for the
year ended December 31, 2010, payable on February 3, 2011 to
shareholders of record at the close of business on January 19, 2011.
The Company expects that, once its annual financial statements have been
audited and approved by the Board of Directors, that the Board of
Directors will resolve to have the Company pay out, by way of special
dividend to its shareholders, an additional amount, which, together
with the interim special dividend declared today, will represent most
of the Performance Fees (net of related bonuses, expenses and taxes)
earned for the year.
Non-GAAP Financial Measures
This press release includes financial terms (including Performance Fees)
that the Company utilizes to assess the financial performance of its
business that are not measures recognized under Canadian generally
accepted accounting principles ("GAAP"). These non-GAAP measures should
not be considered alternatives to performance measures determined in
accordance with GAAP and may not be comparable to similar measures
presented by other issuers. For additional information regarding the
Company's use of non-GAAP measures, including the calculation of these
measures, please refer to the "Non-GAAP Financial Measures" section of
the Company's Management's Discussion and Analysis and its financial
statements available on the Company's website at www.sprottinc.com and
on SEDAR at www.sedar.com.
This release contains "forward-looking statements" which reflect the
current expectations of the Company. These statements reflect
management's current beliefs with respect to future events and are
based on information currently available to management. Forward-looking
statements involve significant known and unknown risks, uncertainties
and assumptions. Many factors could cause actual results, performance
or achievements to be materially different from any future results,
performance or achievements that may be expressed or implied by such
forward-looking statements including, without limitation, those listed
under the heading "Risk Factors" in the Company's annual information
form dated March 30, 2010. Should one or more of these risks or
uncertainties materialize, or should assumptions underlying the
forward-looking statements prove incorrect, actual results, performance
or achievements could vary materially from those expressed or implied
by the forward-looking statements contained in this release. These
forward-looking statements are made as of the date of this release and
the Company does not assume any obligation to update or revise them to
reflect new events or circumstances.
About Sprott Inc.
Sprott Inc. is a leading independent asset manager dedicated to
achieving superior returns for its clients over the long term. The
Company currently operates through three business units: Sprott Asset
Management LP, Sprott Private Wealth LP and Sprott Consulting LP.
Sprott Asset Management is the investment manager of the Sprott family
of mutual funds and hedge funds and discretionary managed accounts;
Sprott Private Wealth provides wealth management services to high net
worth individuals; and Sprott Consulting provides management,
administrative and consulting services to other companies, including
Sprott Resource Corp. (TSX: SCP) and Sprott Resource Lending Corp.
(TSX: SIL) (NYSE AMEX: SILU). Sprott Inc. is headquartered in Toronto,
Canada, and is listed on the Toronto Stock Exchange under the symbol
"SII". For more information on Sprott Inc., please visit www.sprottinc.com.
SOURCE Sprott Inc.
For further information:
Investor contact information: (416) 203-2310 or 1 (877) 403-2310 or firstname.lastname@example.org