MONTREAL, Aug. 26, 2020 /CNW Telbec/ - Nomad Royalty Company Ltd. ("Nomad" or the "Company") (TSX: NSR) (OTCQX: NSRXF) is pleased to announce that the Company's Board of Directors has adopted an annual dividend policy for the Company of C$0.02 per share, payable quarterly. The first quarterly dividend of C$0.005 per common share will be payable on October 15, 2020 to Nomad shareholders of record as of the close of business on September 30, 2020.
The implementation of our dividend policy marks an important milestone for Nomad. As part of its long-term strategy, Nomad is firmly committed to returning capital to shareholders through a regular dividend in order to generate lasting, reliable and consistent returns for its shareholders.
"Launching the dividend policy enables Nomad to differentiate itself by joining a group of companies that are committed to returning capital to shareholders. We are very happy to achieve this objective and look to build on this initial dividend level", commented Vincent Metcalfe, Nomad's CEO.
"The annual dividend of C$0.02 per common share represents a 2.2% yield for investors who participated in our initial financing only a few months ago, and represents, based on our last closing price of C$1.30 on the Toronto Stock Exchange, a significant yield of 1.5%, which will position Nomad as a leading dividend payer in our sector", commented Joseph de la Plante, Nomad's CIO.
For shareholders residing in the United States, the dividend will be paid in U.S. dollars based on the daily exchange rate published by the Bank of Canada on September 30, 2020. The dividend has been designated by Nomad as an "eligible dividend" under the Income Tax Act (Canada).
Nomad Royalty Company Ltd. is a gold & silver royalty company that purchases rights to a percentage of the gold or silver produced from a mine, for the life of the mine. Nomad owns a portfolio of 11 royalty, stream, and gold loan assets, of which 5 are on currently producing mines. Nomad plans to grow and diversify its low-cost production profile through the acquisition of additional producing and near-term producing gold & silver streams and royalties. For more information please visit: www.nomadroyalty.com.
Nomad Royalty Company Ltd.
500-1275 ave. des Canadiens-de-Montréal
Montréal (Québec) H3B 0G4
Certain statements contained in this press release may be deemed "forward-looking statements". All statements in this release, other than statements of historical fact, that address events or developments that Nomad expects to occur, are forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential", "scheduled" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur. Although Nomad believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in forward-looking statements. Factors that could cause the actual results to differ materially from those in forward-looking statements include: the impossibility to acquire royalties, streams and to fund precious metal streams, gold prices, Nomad's royalty and stream interests, access to skilled consultants, results of mining operations, exploration and development activities for properties with respect to which Nomad holds a royalty or stream, uninsured risks, regulatory changes, defects in title, availability of personnel, materials and equipment, timeliness of government or court approvals, actual performance of facilities, equipment and processes relative to specifications and expectations, unanticipated environmental impacts on operations, market prices, continued availability of capital and financing and general economic, market and business conditions. Nomad cautions that the foregoing list of important factors is not exhaustive. Investors and others who base themselves on the forward-looking statements contained herein should carefully consider the above factors as well as the uncertainties they represent and the risks they entail. Nomad believes that the expectations reflected in those forward-looking statements are reasonable, but no assurance can be given that these expectations will prove to be correct and such forward-looking statements included in this press release should not be unduly relied upon. These statements speak only as of the date of this press release. Nomad undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, other than as required by applicable law.
SOURCE Nomad Royalty Company Ltd.
For further information: about Nomad Royalty Company, please visit our website at www.nomadroyalty.com or email us: Vincent Metcalfe, CEO, [email protected]; Joseph de la Plante, CIO, [email protected]