TORONTO, Nov. 10, 2016 (GLOBE NEWSWIRE) -- Sprott Inc. (“Sprott” or the “Company”) (TSX:SII) today declared an eligible dividend of $0.03 per common share for the quarter ended September 30, 2016, payable on December 6, 2016 to shareholders of record as at the close of business on November 21, 2016.
Sprott is also pleased to announce the introduction of a Dividend Reinvestment Plan (the “Plan”), subject to TSX final approval, for Canadian resident shareholders of common shares of Sprott. The Plan provides a convenient and cost-effective method for eligible holders in Canada to maximize their investment in Sprott by reinvesting their cash dividends to acquire additional Sprott common shares. In conjunction with the dividend declared today, the Board of Directors of Sprott has approved a discount in the purchase price of 3% on dividend reinvestment shares purchased from Sprott pursuant to the Plan.
For more information about the Plan, or to request or download a copy of the detailed Plan circular, please contact the Plan Agent, TSX Trust Company (“TSX Trust”), by phone at 1-866-600-5869, by e-mail to tmxeinvestorservices@tmx.com, or visit TSX Trust’s website at www.tsxtrust.com/resources/investor-centre/forms. A copy of the Plan circular is also available on our website at www.sprottinc.com (go to “Investor Relations” and “DRIP”).
About Sprott
Sprott Inc. is a global alternative asset manager with three primary lines of business: Private Resources; Exchange Listed Products; and Diversified Alternative Investment Management. The Private Resource business platform houses the Company's private resource-focused asset management activities; the Exchange Listed Products business platform houses the Company's closed-end physical trusts and exchange traded funds; and the Diversified Alternative Asset Management business platform houses the Company's full suite of public mutual funds, alternative investment strategies and managed accounts. Sprott Asset Management LP is the principal subsidiary of Sprott and the manager of both the Exchange Listed Products business line and the Diversified Alternative Investment Management business line. For more information, please visit www.sprottinc.com
Forward-Looking Statements
Certain statements in this news release contain forward-looking information (collectively referred to herein as the “Forward-Looking Statements”) within the meaning of applicable securities laws. The use of any of the words "expect", "anticipate", “continue”, “estimate”, “may”, “will”, “project”, "should", "believe", "plans", “intends” and similar expressions are intended to identify Forward-Looking Statements. In particular, but without limiting the forgoing, this news release contains Forward-Looking Statements pertaining to the declaration of future dividends and the Plan. Although Sprott believes that the Forward-Looking Statements are reasonable, they are not guarantees of future results, performance or achievements. A number of factors or assumptions have been used to develop the Forward-Looking Statements. Actual results, performance or achievements could vary materially from those expressed or implied by the Forward-Looking Statements should assumptions underlying the Forward-Looking Statements prove incorrect or should one or more risks or other factors materialize, including: (i) changes in the investment management industry; (ii) changes in investor interest in precious metals and alternative income strategies; and (iii) those risks described under the heading "Risk Factors" in Sprott’s annual information form dated March 10, 2016. In addition, the payment of dividends is not guaranteed and the amount and timing of any dividends payable by Sprott will be at the discretion of the Board of Directors and will be established on the basis of Sprott’s earnings, the satisfaction of solvency tests imposed by applicable corporate law for the declaration and payment of dividends, and other relevant factors. The Forward-Looking Statements speak only as of the date hereof, unless otherwise specifically noted, and Sprott does not assume any obligation to publicly update any Forward-Looking Statements, whether as a result of new information, future events or otherwise, except as may be expressly required by applicable Canadian securities laws.