You Wouldn't Believe the Length of Franco-Nevada Corporation's Dividend Streak
Gold and silver are commodities subject to often severe and swift price swings. Generally speaking that means precious metals miners have volatile top- and bottom-lines. But Franco-Nevada Corporation (NYSE: FNV) isn't a miner, it's a streaming company -- and while its revenues and earnings will move around with the price of gold and silver, you wouldn't believe the size of Franco-Nevada's dividend streak. In fact, most miners can only envy the record.
The first thing to understand about Franco-Nevada is that it doesn't get its hands dirty running mines. Instead it provides capital up front to miners in exchange for the right to buy gold and silver, and other commodities, in the future at reduced rates. This is called streaming. It also owns royalty interests, which are similar in nature.
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