Case Bongirne

Case Bongirne asked if the recent significant increase in gold prices and resulting higher cash flows would alter Franco-Nevada's approach to shareholder returns, specifically regarding higher dividends, potential share buybacks, or continued M&A.

Answer

Sandip Rana, Chief Financial Officer, stated that the company's priority remains adding high-quality assets. He confirmed the dividend philosophy is sustainable and progressive, with an increase expected next year, but share buybacks are not currently being considered as M&A offers better capital deployment.

Case Bongirne asked if the recent significant increase in gold prices has altered Franco-Nevada's approach to shareholder returns, specifically regarding a higher dividend, potential share buybacks, or continued M&A.

Answer

Sandip Rana, CFO, Franco-Nevada Corporation, stated that the company's capital deployment priorities remain unchanged: adding high-quality assets, primarily precious metals, and diversified opportunities. He confirmed the dividend philosophy is sustainable and progressive, with an expected increase next year, but the quantum is yet to be determined. Share buybacks are not currently being considered, as adding assets is seen as the best use of capital.