Wheaton Precious Metals Posts Q1 Revenue $901M, Earnings $582M; Raises Dividend 18%
WPM•Wheaton Precious Metals posted record first-quarter results with $901 million in revenue, $582 million in net earnings, and $766 million in operating cash flow, driven by higher production and new streaming transactions. Its Board declared a quarterly dividend of US$0.195 per share, an 18% increase over 2025.
1. Q1 Record Financial Performance
In the first quarter of 2026, Wheaton generated a record $901 million in revenue (up 91.6%), $582 million in net earnings (up 129.2%), $583 million in adjusted net earnings (up 132.3%), and $766 million in operating cash flow (up 112.3%). Attributable gold equivalent production rose 21.5% to 211,951 ounces, driven by contributions from Peñasquito, Antamina and the recommencement at Aljustrel, while cash on hand stood at $2.2 billion.
2. 18% Dividend Hike and DRIP Options
The Board declared its second quarterly cash dividend of US$0.195 per common share, marking an 18% increase from the equivalent payment in 2025. Shareholders of record as of May 27, 2026, will receive the dividend on June 9, 2026; the Company’s optional Dividend Reinvestment Plan allows issuance of shares from treasury at the Average Market Price without discount.
3. New Streaming and Royalty Deals
During Q1, Wheaton closed its largest streaming transaction to date with BHP for Antamina’s 33.75% silver stream and entered its first Australian streaming agreement with KGL Resources for the Jervois project, gaining rights of first refusal. Additionally, a 1.5% net smelter returns royalty was secured on Spanish Mountain Gold’s project, broadening geographic reach and counterparty diversity.
