Silver Wheaton (SLW) Posts Q3 EPS of $0.38, Triples Dividend to $0.09

Silver Wheaton (NYSE: SLW) reported Q3 EPS of $0.38, $0.12 worse than the analyst estimate of $0.50. Revenue for the quarter came in at $185.2 million versus the consensus estimate of $225.78 million.

Board of Directors has adopted a new dividend policy that links quarterly dividend payments to operating cash flows in the prior quarter. Commencing immediately, the quarterly dividend per common share will be equal to 20% of the cash generated by operating activities in the previous quarter divided by the Company's outstanding common shares at the time the dividend is approved, all rounded to the nearest cent.

Based on the new policy, the Board of Directors has declared its fourth quarterly cash dividend for 2011 of US$0.09 per common share. The quarterly dividend will be paid to holders of record of its common shares as of the close of business on November 23, 2011, and will be distributed on or about December 5, 2011.

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