05:32 PM EDT, 03/13/2025 (MT Newswires) -- Wheaton Precious Metals ( WPM ) was last seen up 1.1% in after-hours New York trading Thursday as it reported in-line earnings for the fourth quarter despite a revenue miss, but raised its dividend as it provided a five-year production forecast that estimates annual production increasing by 40%.

For the fourth-quarter, the royalty and streaming company reported adjusted earnings, excluding most one-time its of US$198.97 million, or US$0.44 per share compared to US$164.57 million or US$0.36, a year earlier. The FactSet forecast was US$0.43.

Fourth-quarter revenue rose to US$380.52 million, up from US$313.47 million a year earlier, but below a FactSet forecast of $392.7 million.

The company's board declared a first-quarter dividend of US$0.165 per share, a 6.5% increase from the fourth quarter level of US$0.155 per common share. The first-quarter dividend will be paid to holders of record of on April 1 on or about April 11, 2025.

"Wheaton achieved record revenue, adjusted net earnings and operating cash flow in 2024, driven by our diversified portfolio of high-quality and long-life assets. We exceeded our production guidance for the year due to outperformances at Salobo and Constancia and are proud to have returned a record level of dividends to shareholders in 2024," said chief executive Randy Smallwood.

"In 2024, Wheaton remained focused on accretive growth, delivering four new streams and royalties and further reinforcing our industry-leading growth profile. This impressive growth is readily apparent in our five-year production forecast, where we estimate annual production increasing by 40% to 870,000 gold equivalent ounces. As we enter 2025, we look forward to building off our accomplishments from 2024, delivering on a consistent growth profile, and ultimately creating lasting value for all stakeholders." Smallwood added.

The company's shares were last seen up US$0.88 to US$73.60 after hours. They closed up $2.62 or 2.6% to $105.02 on the Toronto Stock Exchange.