(Kitco News) – Franco-Nevada reported today that its Q1 2021 revenue of $308.9 million was 28% higher compared to Q1 2020 ($240.5 million) and net income of $171.5 million was 274% higher over Q1 2020.
For Q1 2021, the company said, its revenue was sourced 85.4% from gold and gold equivalents (61.6% gold, 15.4% silver, 6.3% PGM and 2.1% other mining assets). Geographically, revenue was sourced 90.4% from the Americas (28.8% South America, 22.1% Central America & Mexico, 21.5% U.S. and 18.0% Canada).
The company added that it had no net debt with $1.2 billion in available capital as at May 5, 2021. Franco-Nevada also generated $224.3 million in operating cash flow for the quarter.
As previously announced, reflecting the acquisition of the Vale Royalty Debentures, Franco-Nevada now expects attributable royalty and stream sales in 2021 to total 580,000 to 615,000 GEOs from its Mining assets, an increase from 555,000 to 585,000 GEOs previously and additional revenue of $115 to $135 million from its Energy assets.
Franco-Nevada also announced that its board has declared a quarterly dividend of $0.30 per share. The dividend will be a 15.4% increase from the previous $0.26 per share quarterly dividend and will mark the 14th consecutive annual dividend increase for Franco-Nevada shareholders.
Franco-Nevada is the leading gold-focused royalty and streaming company with the largest and most diversified portfolio of cash-flow producing assets.