VANCOUVER, March 21, 2017 /PRNewswire/ --
TSX:SLW
NYSE:SLW
Silver Wheaton Corp. ("Silver Wheaton" or the "Company") (TSX:
SLW) (NYSE: SLW) is pleased to announce that its Board of Directors
has declared its first quarterly cash dividend payment for 2017 of
US$0.07 per common share, an increase
of US$0.01 relative to the previous
quarterly dividend.
First Quarterly Dividend
The first quarterly cash dividend of US$0.07 will be paid to holders of record of
Silver Wheaton common shares as of the close of business on
April 5, 2017, and will be
distributed on or about April 21,
2017.
Under the Company's dividend policy, the quarterly dividend per
common share will be equal to 20% 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.
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 first quarterly dividend, the Company has elected
to issue common shares under the DRIP through treasury at a 3%
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 are available for download on the
Company's website at http://www.silverwheaton.com, accessible
by quick links directly from the home page, and can also be found
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://www.canstockta.com/en/InvestorServices/Investor_Information/Issuer_List/IssuerDetail.jsp?companyCode=1501.
Beneficial shareholders should contact their financial
intermediary to arrange enrollment. All shareholders considering
enrollment in the DRIP should carefully review the terms of the
DRIP and consult with their advisors as to the implications of
enrollment in the DRIP.
This press release is not an offer to sell or a solicitation of
an offer of securities. A registration statement relating to the
DRIP has been filed with the U.S. Securities and Exchange
Commission and may be obtained under the Company's profile on the
U.S. Securities and Exchange Commission's website
at http://www.sec.gov. A written copy of the prospectus
included in the registration statement may be obtained by
contacting the Corporate Secretary of the Company at 1021 West
Hastings Street, Suite 3500, Vancouver,
British Columbia, Canada V6E 0C3.
Patrick Drouin, Senior Vice
President, Investor Relations, Silver Wheaton Corp., Tel:
+1-844-288-9878, Email: info@silverwheaton.com, Website:
http://www.silverwheaton.com