Precious metals royalty company Royal Gold Inc. said Wednesday it raised its annual dividend by 13 percent to 36 cents per common share.
The company, which acquires and manages precious metal royalty interests, says the dividend will be payable on a quarterly basis of 9 cents per share.
The first quarterly dividend at that rate will be paid on Jan. 15 to shareholders of record at the close of business on Jan. 4.
Royal Gold owns royalties on 118 properties, including royalties on 21 producing mines and 12 development stage projects.
Shares of Royal Gold added 41 cents to $53.16 in morning trading. The stock earlier traded at $53.38, eclipsing a previous 52-week high of $52.75 set on Tuesday.