01:37 PM EDT, 03/22/2024 (MT Newswires) -- Sailfish Royalty Corp. ( SROYF ) said Friday that its board has declared the company's first quarterly cash dividend for 2024 of US$0.0125 per common share.

The dividend will be paid on April 15 to Sailfish shareholders of record as of the close of business on March 31.

Separately, the company reported the termination of the share purchase option agreement with CMC Metals Ltd. ( CMCXF ) .

Under the agreement, the company granted CMC the option to buy all of the issued and outstanding shares of Swordfish Silver Corp., which, through Sailfish de Mexico SA de CV, holds the mineral rights in and to the silver exploration project located in the Municipality of San Dimas, State of Durango, Mexico, known as the Gavilanes property.

CMC has allegedly unilaterally terminated the agreement. The company has accepted the termination and has hired litigation counsel in British Columbia to review this matter and seek all available remedies.

The company's stock remained unchanged on last look on Friday.