Welcome to our dedicated page for Sprott news (Ticker: SII), a resource for investors and traders seeking the latest updates and insights on Sprott stock.
Sprott Inc. reports developments as a global asset manager focused on precious metals and critical materials investments. News typically covers assets under management, fund flows, financial results and activity across Exchange Listed Products, Managed Equities, Private Strategies and corporate operations.
Company updates also include dividends, normal course issuer bids, ETF launches and changes involving Sprott-branded funds and physical trusts. Product coverage includes critical materials ETFs such as the Sprott Rare Earths Ex-China ETF and fund actions involving the Sprott Physical Copper Trust, a vehicle created to hold physical copper metal.
Sprott Inc. (NYSE/TSX: SII) announced the successful outcomes of its Annual Meeting held on May 7, 2021. All resolutions presented in the Management Information Circular dated March 22, 2021, received shareholder approval. During the meeting, Sprott's six nominated directors were elected with high majority votes: Ronald Dewhurst (99.041%), Graham Birch (99.553%), and others achieving over 87% approval. Additionally, KPMG LLP was re-appointed as Sprott's auditor with 99.814% votes in favor. Detailed voting results will be filed on SEDAR for shareholder review.
Sprott reported strong financial results for Q1 2021, with adjusted base EBITDA at $14.6 million ($0.59/share), up 78% year-over-year. Management fees rose to $22.5 million, while net income increased to $3.2 million. The company also announced a strategic agreement to manage Uranium Participation Corporation, potentially adding $500 million to assets under management (AUM), which currently stands at $17.1 billion. Despite a slight decline in AUM quarter-over-quarter, recent inflows have boosted it to $18.2 billion as of May 4, 2021.
Sprott Inc. (NYSE/TSX: SII) has declared a first quarter 2021 dividend of US$0.25 per common share, payable on June 1, 2021, to shareholders recorded by the close of business on May 17, 2021. Canadian residents will receive their dividends in Canadian dollars based on the exchange rate on the payment date, while non-residents will receive theirs in U.S. dollars, with options for currency elections. The dividend is classified as an eligible dividend for Canadian tax purposes.
Sprott Inc. (NYSE:SII) announced it will host a conference call on May 7, 2021, at 10:00 a.m. ET to discuss its first-quarter results for 2021. The financial results will be released earlier that day at 7:00 a.m. ET. Interested participants can join the call by dialing (855) 458-4215 and using conference ID 54907466. A replay will be available until May 14, 2021. Sprott is a leader in precious metal investments, offering specialized investment strategies, and operates from offices in Toronto, New York, and London. For more information, visit www.sprott.com.
Sprott Inc. (SII) announced a definitive agreement for its subsidiary, Sprott Asset Management, to acquire Uranium Participation Corporation (UPC), turning UPC shareholders into unitholders of the new Sprott Physical Uranium Trust. UPC, the largest publicly traded uranium investment vehicle, holds approximately 16.27 million pounds of U3O8 valued at C$665 million. The transaction is expected to close by Q3 2021 and aims to enhance trading liquidity and asset growth, with WMC Energy acting as Technical Advisor.
Sprott announced an Investor Webcast scheduled for April 6, 2021, at 10:00 a.m. ET. Presenters will include CEO Peter Grosskopf, President Whitney George, CFO Kevin Hibbert, and CEO of Sprott Asset Management, John Ciampaglia. Investors can register and submit questions in advance through a provided link. Sprott is a global asset manager known for precious metal investments, with offices in Toronto, New York, and London. The company’s stock is listed on both NYSE and TSX under the symbol SII.
Sprott Inc. (SII) announced approval from the Toronto Stock Exchange for a normal course issuer bid (NCIB) to repurchase up to 642,576 common shares, approximately 2.5% of its outstanding shares. The buyback, set to begin on March 3, 2021, and end on March 2, 2022, aims to enhance shareholder liquidity, as Sprott believes its shares are undervalued compared to its business prospects. In the prior NCIB, Sprott repurchased 186,403 shares at an average price of C$27.00, totaling C$5,034,300.30.
Sprott Inc. (SII) reported strong financial results for 2020, with Assets Under Management (AUM) reaching a record high of $17.4 billion, an increase of 88% year-over-year. Adjusted base EBITDA rose 52% to $44.2 million, driven by significant market appreciation and inflows, particularly in physical trusts. The company reported net income of $27 million, up $16.8 million from the previous year. Sprott was added to the S&P/TSX Composite Index and increased its dividend to $0.25 in February 2021. Despite these gains, finance income declined significantly by 65% due to the repayment of legacy loans.
Sprott Inc. (NYSE/TSX: SII) has declared a fourth quarter 2020 dividend of US$0.25 per common share, scheduled for payment on March 23, 2021. Shareholders on record by March 8, 2021 will receive their dividends, with Canadian residents receiving payments in Canadian dollars and other shareholders in U.S. dollars. The dividend qualifies as an eligible dividend for Canadian tax purposes.
Sprott is a global leader in precious metal investments, with a focus on providing specialized investment strategies.
Sprott Inc. (NYSE:SII) will host a conference call on February 26, 2021, at 10:00 a.m. ET, to discuss its 2020 annual results. The financial results will be released at 7:00 a.m. ET on the same day. Interested participants can join the call by dialing (855) 458-4215 with conference ID 7372646. A taped replay will be available until March 5, 2021. Sprott is a leading global asset manager specializing in precious metal investments, with offices in Toronto, New York, and London.