Wheaton Precious Metals Corp. (NYSE:WPM) Q4 2023 Earnings Call Transcript

Randy Smallwood: And with respect to the cash on hand, it’s been a pretty consistent message. If we can’t put it back into the ground effectively, it goes back to shareholders. I don’t see us ever if we ever bump up over $1 billion cash on hand, that to me is pretty lazy balance sheet. And that’s the point that if you ever see a cash balance kicking up at those kind of levels, we’ll start ramping up that dividend and start feeding even more of that back to our shareholders. We already lead the entire precious metal space on that front in terms of how much we, what percentage we give back to our shareholders, but we can amp that up further. And my hope is and what we’re always trying to do is manage our existing portfolio and grow it and continue to add quality assets.

And that’s what we’ll keep doing, but we’re going to do it for accretive prices. We’re not going to frivolously I mean, for us, it’s important that we are strong stewards of our shareholders’ capital. And so, if we can’t put it to work effectively, it will go back to shareholders. Our first choice is always going to be to grow the dividend. I think it’s the best way. It’s a commitment on a longer term basis to go out. And so, I just think that that’s always going to be our first our preferred choice.

John Tumazos: Thank you and congratulations once again.

Randy Smallwood: Thanks, John. And thank you, everybody. Go ahead.

Operator: I was just going to turn back the call over to yourself. Ladies and gentlemen, this concludes the Q&A portion of today’s conference call. I will now turn the call over to Mr. Randy Smallwood, for closing remarks.

Randy Smallwood: Thank you, everyone, for your time today. As we at Wheaton here celebrate our 20th Anniversary here in 2024, I’m just incredibly grateful for the partnerships that we have forged over the years and the strong support of our shareholders. Together, we have provided the industry with an innovative solution to project finance that truly unlocks value for all stakeholders. Wheaton’s high-quality portfolio of assets, sector leading growth profile and commitment to sustainability provides our shareholders with a solid outlook for the future and is one of the best vehicles for investing into the gold and precious metals space. So, as we celebrate our 20th year, I’m just sincerely thankful for all of our stakeholders for their part in our success in Wheaton’s success and I do look forward to a golden future ahead. So, we look forward to speaking to all of you again soon. Thank you.

Operator: This concludes your conference call for today. Thank you for participating. You may now disconnect your lines. Thank you.