Franco-Nevada Declares Dividend Increase and Provides Details for Upcoming Release of Year-End 2023 Results
NEWS RELEASE
Toronto, January 30, 2024
(in U.S. dollars unless otherwise stated)
Franco-Nevada Declares Dividend Increase and Provides Details
for Upcoming Release of Year-End 2023 Results
Franco-Nevada Corporation (“Franco -Nevada” or the “Company”) is pleased to announce that its Board of Directors has
raised its quarterly dividend and declared a quarterly dividend of US$0.36 per share payable on March 28, 202 4 to
shareholders of record on March 1 4, 2024 (the “Record Date”). The increased dividend will be effective for the full 202 4
fiscal year. This is a 5.88% increase from the previous US$0.34 per share quarterly dividend and marks the 17th consecutive
annual increase for Franco -Nevada shareholders. Canadian investors in Franco -Nevada’s IPO in December 2007 are now
receiving an effective 12.1% yield on their cost base.
Cobre Panama Update
Cobre Panama currently remains in a phase of preservation and safe maintenance with production halted. As a result of the
current suspension of operations, the Company is conducting an impairment analysis, the details of which will be disclosed
in its 2023 year-end financial statements.
Details for Upcoming Release of 2023 Year-End Results
Franco-Nevada will report its 2023 year-end results as follows:
2023 Results Release: March 5th after market close
Conference Call and Webcast: March 6th 10:00 am ET
Dial-in Numbers: Toll-Free: 1-888-390-0546
International: 416-764-8688
Conference Call URL (This allows participants to
join the conference call by phone without operator
assistance. Participants will receive an automated
call back after entering their name and phone
number):
https://bit.ly/47FxaLi
Webcast: www.franco-nevada.com
Replay (available until March 13th): Toll-Free: 1-888-390-0541
International: 416-764-8677
Passcode: 380736 #
Details for Dividend Declaration and Dividend Reinvestment Plan
The dividend has been declared in U.S. dollars and the Canadian dollar equivalent will be determined based on the daily
average rate posted by the Bank of Canada on the Record Date. Under Canadian tax legislation, Canadian resident
individuals who receive “eligible dividends” are entitled to an enhanced gross-up and dividend tax credit on such dividends.
The Company has a Dividend Reinvestment Plan (the “DRIP”) which allows shareholders of Franco -Nevada to reinvest
dividends to purchase additional common shares at the Average Market Price, as defined in the DRIP, subject to a discount
from the Average Mark et Price in the case of treasury acquisitions. The Company will issue additional common shares
through treasury at a 1% discount to the Average Market Price. The Company may, from time to time, in its discretion, change
or eliminate the discount applicable to treasury acquisitions or direct that such common shares be purchased in market
acquisitions at the prevailing market price, any of which would be publicly announced. Participation in the DRIP is optional.
The DRIP and enrollment forms are available on the Company’s website at www.franco -nevada.com. Canadian and U.S.
registered shareholders may also enroll in the DRIP online through the plan agent’s self -service web portal at
www.investorcentre.com/franco-nevada. Canadian and U.S. beneficial shareholders should contact their financial
intermediary to arrange enrollment. Non-Canadian and non-U.S. shareholders may potentially participate in the DRIP, subject
to the satisfaction of certain conditions. Non-Canadian and non-U.S. shareholders should contact the Company to determine
whether they satisfy the necessary conditions to participate in the DRIP.
This press release is not an offer to sell or a solicitation of an offer for securities. A registration statement relating to the
DRIP has been filed with the U.S. Securities and Exchange Commission and may be obtained under the Company’s profile
on the U.S. Securities and Exchange Commission’s website at www.sec.gov.
Corporate Summary
Franco-Nevada Corporation is the leading gold-focused royalty and streaming company with the largest and most diversified
portfolio of cash -flow producing assets. Its business model provides investors with gold price and exploration optionality
while limiting exposure to cost inflation. Franco -Nevada is debt-free and uses its free cash flow to expand its portfolio and
pay dividends. It trades under the symbol FNV on both the Toronto and New York stock exchanges.
For more information, please visit our website at www.franco-nevada.com or contact:
Sandip Rana
Chief Financial Officer
416-306-6303
Forward-Looking Statements
This press release contains “forward-looking information” and “forward-looking statements” within the meaning of applicable Canadian securities
laws and the United States Private Securities Litigation Reform Act of 1995, respectively, which may include, bu t are not limited to, statements
with respect to the preservation and safe maintenance program at the Cobre Panama mine and any potential impairment of the carryin g value
of the Cobre Panama streams by Franco -Nevada. The outcome of these matters, the failu re to restart production from the mine, the inability to
achieve agreement on appropriate mining concession arrangements, further steps in respect thereof by the Panamanian government and courts,
and the outcome of any potential legal proceedings by First Quantum Minerals Ltd. and Franco-Nevada could have a material adverse impact on
the revenue Franco -Nevada derives from its streaming arrangements relating to Cobre Panama and on Franco -Nevada’s results of operations
and financial condition. There can be no assurance that such forward-looking statements will prove to be accurate and actual results and future
events could differ materially from those anticipated in such statements. Investors are cautioned that forward -looking statements are not
guarantees of future performance. Accordingly, investors should not place undue reliance on forward -looking statements due to the inherent
uncertainty therein.
For additional information with respect to risks, uncertainties and assumptions relating to Franco-Nevada’s business and assets, please refer to
Franco-Nevada’s most recent Annual Information Form filed with the Canadian securities regulatory authorities o n www.sedarplus.com and
Franco-Nevada’s most recent Annual Report filed on Form 40 -F filed with the SEC on www.sec.gov. The forward-looking statements herein are
made as of the date of this press release only and Franco -Nevada does not assume any obligation to update or revise them to reflect new
information, estimates or opinions, future events or results or otherwise, except as required by applicable law.