By Adriano Marchese
Gold Royalty said Monday that it will suspend its dividend to put its capital toward acquisitions that will support its cash flow and net asset value.
The New York-listed, Canadian gold-focused royalty company said the board of directors will suspend its dividend program to focus capital on executing its strategic priority of growing cash flow and net asset value per share.
Additionally, Gold Royalty has agreed to acquire an existing royalty from Endeavour Silver on a portion of a mine in Mexico for $7.5 million.
The royalty is a 1% net smelter return royalty on portions of the Cozamin Copper-Silver Mine, and Gold Royalty said its dividend will be suspended following the completion of the acquisition.
Write to Adriano Marchese at adriano.marchese@wsj.com
